There will be no point of regulating cryptocurrencies by removing its all basic characteristics instead of doing like that then government can go for their own digital currency because after removing out all the basic characteristics of cryptocurrencies it will remain like fiats but in digital form.
A regulation from government should be only for preventing cryptocurrencies to be used for money laundering or any other highly potential risk involved activities but definitely they should not work on regulating by removing the basic characteristics of cryptocurrency.