Bitcoin is supposed to work like a payment system but is too slow to compete with the Banking payment system.
If only you knew how slow and expensive the settlement layer of banks is.
If regulation comes into existence than the Banks will be able to control and own Bitcoin as they did for Gold.
Banks can only regulate the ownership of bitcoin, but they definitely won't be able to control it. If banks will be able to control bitcoin, they probably would've done it in the past already, and that would automatically make bitcoin a failure. As time goes, it only gets harder and harder for them.