How will it be regulated effectively? I'm failing to see it.
Maybe someone can tell me how Bitcoin transactions can be controlled, but is that not the problem that Satoshi set out to solve when creating Bitcoin, to create cash for the internet, digital gold that cannot be interfered with? Is that not what gives Bitcoin it's entire value proposition, that it gives every human being more power than the governments or the banks have to control their own money?
yeah,they cannot control transactions or fees but they can control bitcoin-fiat exchanges chain
try to remove or tax the institutions that deal with bitcoins
thats why adoption is important,this will allow to sell for bitcoins,buy goods,services etc.