I don't know if anyone is thinking the same thing, Banks are collapsing and they want to regulate crypto? How is this going to be possible? How can a corrupt system brings a transparent regulation to the crypto space? I think that this regulation is a FAD, the aim behind this regulation is not about saving mankind from crypto rug pulls, I think the plan is to squeeze the life out of crypto because of the attention its getting.
If anything needs regulation, it is CENTRALIZED EXCHANGES only.
Something that needs to be regulated is exchanges are not crypto or bitcoin specifically and there is no reason for them to regulate bitcoin as it is decentralized.
They can give any reasons behind the regulations they make, the transparency they mean is their efforts to profit from taxes and one of the things they have to do is implement regulations and if they can it has been regulated a long time ago, but in fact until now they have not find a workable format. Want to be forced however bitcoin can never be regulated and for exchanges, some countries have made regulations for the process of its journey, so that there is legalization of some crypto as commodity assets that have been given permission to trade.