Regulation and control, how do you understand them? Regulation is the management of the process in a given direction, control is the observation and supervision of the process. To achieve this goal, these tools are essential. However, when it comes to the decentralized world of cryptocurrencies, these concepts lose their meaning. Why do we need to regulate the crypto market? To increase the degree of liability and security, crypto means of citizens to take the tax from incomes of citizens and to Supplement the budget in order to attract the unscrupulous creators of ICO and other Airdrops and Scam to account and to recover from them damages for the loss of investment of the participants. If you want to hide your crypto-income and savings from taxation,then you do not need control, and if you have invested your money in a bad project or stolen it from you,then you are looking for the culprit and trying to bring him to justice,then you just need tools of control and regulation, someone who can legally find the offender and punish.
It turns out that the regulation is good in a fair world, in an ideal world, but when everyone around is trying to get big profits by any means here regulation will not help.
A lot of people thinking about legal status of crypto. Some of them want to make it illegal. So why does cryptocurrency should be illegal? I have never heard a good arguments for making it illegal. People saying that crypto helps bandits clean their dirty money. Or that you can buy dangerous and illegal stuff and services with crypto. So what? It is not a reason to make cryptocurrency illegal. You can buy drugs and guns with fiat money too. And the fact that criminals cleans their money says that fiat money can be dirty too. So shouldn't we make fiat moneh illegal? Also people are saying that government and banks can't control it and that is why we should make crypto illegal. If so, then everyone who use barter is criminal. If you pay your friend for his help with tasty lunch then you should be in prison. Because government can't control tasty lunches.