This is good news. An outright ban would be horrible, but they are thinking of regulating it which is much better in comparison. I know many people don't like the idea of crypto being regulated, but that is the only way crypto can achieve mainstream adoption.
Would be great, since their main aim for regulating it is to improve investor protection and to fight money laundering.
I agree with your statement, there's no other way for government to accept and adopt crypto, not unless it will be regulated. We cannot achieve mass adaptation without the government approval. Most government opt to ban crypto, would have been better for it to be regulated than to let it be restricted to it's citizen.