How could governments really "regulate" bitcoin?

[BitcoinMatt]

There's a lot of talk in the U.S. about government regulation of bitcoin. But how can that happen? And what would such a thing look like? Isn't bitcoin like any other foreign currency (essentially foreign to all countries)? Wouldn't "regulating" bitcoin in the U.S. be like "regulating" the euro in the U.S.?

[BTC_GHD]

The only way they could "regulate" bitcoin is by having lots of them. They still couldn't do very much to my knowledge though.
I wouldn't worry about it happening

[beetcoin]

couldn't they pass legislature to make it so that you must disclose to the government that you own bitcoins? of course, they can't go chasing down everyone, but it would make the coins less ubiquitous.

[msc]

The US can't do much to regulate Bitcoin itself - it's just like cash.  But they can regulate exchanges between Bitcoin and USD.  They can also exert their influence on foreign companies that handle exchanges by controlling that company's US assets if any, or using tax treaties, etc.

[LighningChun]

its like regulate internet. no way!

[odolvlobo]

Governments can't regulate Bitcoin, but they can regulate the use of Bitcoin. For example, they could make it illegal to buy or sell bitcoins, or they could make it illegal to buy or sell something using bitcoins. I think it is most likely that they would impose a special tax on transactions involving bitcoins (they have to get their cut).

[Mike Christ]

Governments regulate nothing but people; reason being, nothing responds to rules or the promise of violence like people do.