We are in the era where people will create crypto projects just to steal from other people's hard work. This will never stop if the government does not do something about it. There are too many altcoins in the market and more are coming out to join the numbers and investors need to be wise enough to learn and prevent themselves from falling victims to scam projects.
Even with government intervention and the enactment of legal framework, it can only minimize and limit scam projects to a certain extent. They will only disappear completely when investors stop being greedy and stop wanting to get rich quickly.
Scammer and fraudulent projects exist because of the greed of investors like us. We should not place all the responsibility or blame on the government.
That is better than nothing at all. Now, will someone still hates the government for joining cryptos when they also do their best to aid the known problems of this space? It may only have some draw backs though like exposure in anonymity but that is the reason on why scammers can now get revealed, tracked, and caught out. Greed is ingrained already in the human specie.
So it is unlikely that people will be contented in their life and won't want easy money anymore. The same thing can go to the other, that there will also be bad guys like the scammers/fraudsters due to the negative trait of greediness and the wants of an easy money.