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.
No one is able to change the rules that have been set by the government, we do not have the authority and power towards the rules that have been set by them.
Some governments have their own pattern of seeing the development of cryptocurrency, that's why there are different regulations set in various countries, in the country where I live crypto is legal for trading on an exchange that already has permission from the government and taxes are regulated by force of law in force in my country and taxes are deducted immediately when making transactions on exchanges.