I think the benefits of this move will easily outweigh the disadvantages like imposed taxes for example. Regulating Bitcoin will make it legitimate in the eyes of possible investors who have been avoiding Bitcoin till now because it is associated with scams and shady deals like half of the time. Now that it is recognized as a completely legitimate payment system this will attract even more investors and enterprises because it will offer a secure environment for conducting business. No more cheeky hit and runs will be tolerated and left unpunished
First of all, regulating something
NEVER makes it better.
Secondly, all of those things you claim to want with regards to bitcoin already exist if you trade or invest with USD or any other legitimate currency. You already pay taxes, or are supposed to, on any gains you make when you sell bitcoins for currency.
Bitcoin is already as secure as is reasonably possible. It's also already able to be used for payments so long as there is a market or exchange that can reliably process transactions.
Cheeky hit and runs happen and do go unpunished...did sleep through 2008-2009 when obama gave investment banks who gamed both investors and the banking system a nearly $1 trillion "too big to fail" bailout?
Again, tell me about that time when something already good got better after bureaucrats got involved. Try: never.