So if a cryptocurrency is regulated in a country, does that protect the citizens that are using it? or they just allow the usage of it in the country? I will lock this after I got a satisfying answer. Thank you.
Of course regulations comes with terms and responsibility. If one country made certain regulation over crypto law, they ate indeed liable and in their protections all those who are using crypto. Usage can be done in every country even there is no regulation. Users will be just fuc*ed up if they get into some kind of trouble and no regulation will be liable on his mistake.
Both are applicable IMO.
I don't think it is a good idea to make it regulated by a country. If cryptocurrency is regulated by a country, it means destroying the "decentralization".
Could be but, we are never been into decentralization at all even the government not yet regulating cryptocurrency. How many users prefer using Major exchange such as Binance known to be a centralized entity over some dex such as forkdelta? Many right? See how decentralization being toppled even without government interventions yet.