The Treasury Department -- which Yellen is about to oversee -- has more relevance. They can bring Bitcoin within the purview of existing MSB regulation. They can mandate strict reporting requirements for Bitcoin businesses so that spending or selling your bitcoins comes with onerous AML/KYC. They can work closely with the IRS to leverage new AML/KYC requirements into a tax enforcement and compliance program.
I have never used p2p , does it still go through a regulated exchange ?
Starting to look scary
P2P exchanges have become subject to regulation too. LocalBitcoins began requiring KYC verification in 2018, and Paxful followed suit a year later. LocalCryptos is holding out, but being based in Australia, I'm not sure how long that will last.
You can check
KYC, not me! for a running list of exchanges you can use without KYC.