Can a decentralized currency like bitcoin ever get regulated?
No. Bitcoin is decentralized and censorship resistant. Only exchanges and centralized services will be regulated and this is not new.
This is a short and straightforward answer to the question of the OP. Bitcoin will always be decentralized but only the institutions or companies that are employing bitcoin can only be subjected to regulation from the government. So nope, bitcoin will never be regulated. The governments can get some information for btc holders owed to these exchanges or remittances which require KYC, but still, they won't get the full picture of the btc movements.