There will be advantages and disadvantages of course. First hand, with regulations, danger of using bitcoin in the black market will be mitigated, danger of money laundering through the use of bitcoin will also be avoided, trust of people to the matter will be increased as will as security but for others, too much of these and that are very unlikable. It will be a hassle for them to abide by those regulations so those who don't want it will not go into it.
Money laundering is already existed before crypto and so we can expect it to be still happening in this new form of currency.
The good thing of being regulated, is we are building a trust and confidence with the investors whereas we could think that we safe enough in here casue we are already protected by the government. Only it happens that many individuals will taking advantage of being in anonymous and doing illegal activities.