The government here, should serve as a facility for the people.
Why should you be afraid of losing your power because of bitcoin, it seems too much.
The government should provide comfort, such as providing legal protection for people who trade in crypto, so that no one will be harmed later.
regulation comes in 2 parts..
1. restrict certain usage
2. consumer protection
governments should support consumer protection but without the restriction part.
EG a custodian should be regulated to be insured and to be transparent about reserves. audited regularly to ensure that reserves match total user account balance
and if a custodian goes insolvent or is hacked, an insurance kicks in.
but without the silly regulation restrictions that say customers should only be able to move X amount or X amount over a year.