I reflect on the fact that lack of regulation in the field of crypto currency, gives wide opportunities for scam projects. And it will not be possible to regulate the cryptocurrency, no matter how much the goverments want to do it. In the fact that in the world of crypto, lots of scammers and they remain unpunished, I see one big plus.
People will be forced to learn to be more insightful, calculating and rational or will be scammed. Protection from the state decrease our instinct of self-preservation and slowed our development.
Crypto currency will make the next generation of people smarter.
Let's discuss this topic.
Your statement shows the fear of unregulated currency. You based it on the presumption of scammers scamming and cheating innocent people. But I differ in some views.
It is not true that under regulated markets there is no cheating or scamming. I have seen scammers / cheaters withdrawing money via internet banking. Modus operandi : several times some customers were getting phone calls from fake bankers ; telling them that their ATM card is to be blocked and ask them to provide card related information. Scammers talked so smartly that the customers take them to be the real bankers and being innocent or illiterate having little knowledge about the working of the banks; reveals the secret information to the fraudsters. Immediately the amount is withdrawn from their accounts. Nothing could be done against those scammers as the mobile numbers after scamming were issued under fake ids.
Also Crypto currency will not make customers smarter. But smart people will make this currency more smart. Smart people having knowledge about crypto will be working a ambassadors to the crypto. They will play a major role in advertising the use of crypto.