Do you believe regulation will protect the market or ruin it?
Without regulation, the market will survive. Also with regulation, the market will survive.
Regulation is not about the market but about people that have bad intentions. The regulations can reduce the number of people with bad intentions but still it will not totally eliminate them.
There is regulation but people need to be careful because there are still scammers and hackers.
Everything has its pros and cons, and so do regulations. But more importantly, we have no choice and compliance is mandatory whether we like it or not.
It is true that regulations cannot completely eliminate people with bad intentions and scams, and as long as people cannot curb their greed, scams will never go away. But I believe that with regulations, the market will be significantly cleaned up and become healthier. From there, the reputation of cryptocurrencies will gradually improve and become more popular.
I believe that major collapses like Mt.gox, FTX or Luna will be unlikely once regulations are finalized.