At what stage are governments in the process of regulating cryptocurrency?
United States
Securities and Exchange Commission (SEC) has not approved any exchange-traded products (such as ETFs) holding cryptocurrencies or other assets related to cryptocurrencies for listing or trading.
Internal Revenue Service (IRS) has ruled that bitcoin and other cryptocurrencies are viewed as property, and not currency, for tax purposes.
China
China banned ICO on September 4th, 2017 and has also issued statements to local exchanges to stop trading in cryptocurrencies. Officials intend to block access to online platforms and mobile apps that offer exchange-like services for cryptocurrencies.
Japan
Bitcoin categorized as a kind of prepaid payment instrument. Bitcoin has been an official legal payment option since April 2017 and 4,500+ stores in the country accept it.
European Union
The European Banking Authority issued warnings to the public about the risks associated with virtual currencies, and recently indicated it will apply anti-money laundering and anti-terrorist financing rules to virtual currencies.
I feel like some regulation would be good, there is a lot of scams out there and people taking advantage which is sad to see and hopefully will not be the demise of the cryptosphere. I just hope that they can get some educated people involved and not over regulate, but hey this is the government we are talking about!