I think it is a good idea that regulation of cryptocurrency will be really implement in the whole world because of this many people will be able to patronize cryptocurrency because the government was eventually say yes on the regulation on it then the people will say that it is really secured because the government as well patronizing it, however the fact that there is someone higher that is controlling on the cryptocurrency is the fact that we are getting into. The fact that the crypto will not be decentralized because just like what you have been said there is someone who is controlled on it.

There's a good and bad side of having cryptocurrency being regulated in every government like being patronized and publicizes worldwide will positively affect the price of the bitcoin at its current state however there's a bad side on it like it has a chance that the anonymity will be eliminated if the majority of crypto users use custodial wallets with their identification is tagged with the wallet address they are using, It may be a procedure if bitcoin is regularized.

I just like bitcoin on how it is today.

Can you imagine if you live in a country who ban cryptocurrency, will you still comfortable when using them? I guess you will not comfortable when you using them. Also when there is a country who ban bitcoin, do you expect there new user poping up? And an exchange who will allowed you to exchange crypto to money fiat and money fiat to crypto? Without those things you will leave cryptocurrency slowly because I will bet you use cryptocurrency is not for payment transaction right? More then that you have seen that cryptocurrency are investment place, and you will need an exchange that you can exchange to money fiat and otherwise. That is the function of regulation, you just need your government have accepted cryptocurrency being a traded only not just for payment system and you will be comfortable when yoh use them.

I think there are many things that should be specified here. For one, does the regulation protect people in which ways? If one loses the private key, even if cryptos are regulated in this country nothing can be done. A scam is a tricker thing. Sometimes scammers in countries that regulate cryptos are caught, in other situations, they aren't. But I believe that sometimes they're caught even if cryptos aren't regulated (because a scam is a scam). It depends on the case, the judge, and the legislation system. Finally, regulations can be different! Some might just allow to use cryptocurrencies and specify some requirements and circumstances, others might go deeper than that. In the end, I think that the answer is 'it depends', but it's more likely that people are protected when there are regulations than when there aren't any.

I think it is a complex issue, but if it is regulated by the country it is because obviously you want to get your good slice out of there, cryptocurrencies and bitcoin were created with the purpose that no third party had control, but the same people owned their own Money, even if they try to control, there are privacy currencies that offer anonymity, it is a way to break those prohibitions, normally people are already showing irreverent to the mandates of governments and banks.

Thank you for your replies. I really appreciate it, to be honest I already sent some of your statements to the guy who asked me about it. He told me that I shouldn't bother but I feel responsible for what happened.