I dont know what the government are still waiting for to establish a regulatory body for this since they too are already picking interest in cryptocurrency first from the digital asset of it, if they really want to benefit more from cryptocurrency too, they need to be able to provide adequate security for its users now that it concerns them, because whatever affect their citizens fund will also affect the economy of the country.
Isn't it funny? We want to be free from centralized government and that's the reason why we use bitcoin, altcoins and other blockchain products. In the other side, we ask for a regulation for centralized government to help us avoiding scam projects.
The gift of freedom is usually abused by humans. That's the state we are now. Funny enough, regulation will be the most tenable way to decimate proliferation of useless coins and developer scams because once they do, they will face jail terms in US and China courts. But then, the fear remains if this single decision will not defeat the purpose of bitcoin and cryptocurrency