Isn't the whole point of bitcoin permission-less exchange? I've heard people talking about the "benefits regulation will bring." But once they regulate crypto won't it lose an enormous amount of its core utility? A distributed ledger that is forced to implement changes from politicians will never allow free exchange or permission-less transactions. What's the point of it then?
So what is the pro-regulation crowd thinking in 2023? Are they confused or am I the one who is wrong here? I would appreciate any perspectives.
When people talk about regulation they aren't talking about making Bitcoin not work anymore. They're talking about stuff like making sure crypto exchanges are safe, trying to stop scammers, stopping fraud in the industry, making rules to allow traditional finance firms and whatnot to hold bitcoin. That sort of stuff. Regulation has nothing to do with stopping Bitcoin from functioning the way it functions.
I mean occasionally there is the horror story of some sort of politicians or regulators want to change how it works (which obviously can't happen) or make some function of it illegal, but those people simply don't know what they are talking about. In general when people talk about the industry needing regulations they mean the helpful stuff mentioned above, stuff that has nothing to do with how blockchain/bitcoin functions, but has to do with making rules for the ecosystem to make things safer.