Bitcoin will be regulated over time, there wouldn't be a uniform implementation of the rules since every country might have different approach on crypto.

My analysis tells me that the global effect would be positive, people who are potential to adopt crypto will start using it with confidence, and also investors in different part of the world would be confident in investing knowing they have government to protect them.

I will completely change from negative to positive, the system is decentralized and we don't need the government for it to function, but if we are talking about real adoption, we need the government to grow, we just have to choose, we allow to be regulated or they will eliminate bitcoin completely.