Regulation has no impact to the bitcoin's volatility, the volatility caused by the demand and supply in the market. it has nothing to do with the regulation. The regulation just made the demand will be less as exchange sites will be more strict to evaluating its users to be able to use its service. That means if that was only decreasing the demand as people can't use some exchange sites anymore. I think that you're not understand about that but what you're saying was not also totally wrong at all. It was giving a small impact but it's not so big and makes bitcoin less volatile. Did you see the bitcoin market? you must see that again. It's very volatile at this moment.