Regulation is not always bad, imo.

According the CNBC interview, Ray Dalio said that if Bitcoin is really successful, regulators will kill it. But in the same interview he mentioned that he has some Bitcoin.

These days I am taking financial news as 'A bad news is a good news.' Usually low unemployment rate is considered a good news for stock market since this could be telling a strong economy, which may be true. However, with Fed pouring money to support the market, the stock market seems to be reacting negatively to the low employment rate worrying that Fed may pulling out the support from the market(may be earlier tapering, etc.). I don't know much about how market works but at least I agree with this idea.

Similar thought process is applied to me when I think about crypto and regulation. Regulation generally may mean less flexibility which can lead to the lower return. But once clear regulation is set, there is higher chance that more institutions/big whales will have a better comfort level to jump into the crypto market, more comfortable to propose the idea to the board and the investors. Will the regulation ultimately kill the whole crypto? I hope not, but who knows, time will tell. I hope at least the enthusiasm, technology and fresh ideas that were born from crypto communities could carry on in someway.

I'm not a financial expert so I don't have a complicated analysis and can't tell what is ahead in the financial market or crypto market. But as a crypto enthusiast, personally I believe, and want to believe, that crypto keeps advancing and that the technology will do good to the world making it a better, fairer place, I hope.