It’s good to have regulations to control the unorganised crypto market. It will lead to be able to extract information about people collecting ransom in crypto

It’s good to have regulations to control the unorganised crypto market. It will lead to be able to extract information about people collecting ransom in crypto for hacks. At the end of the day Bitcoin needs to be converted to other fiat currencies for any real use, otherwise it’s a worthless series of bytes. Bitcoin failed as currency and now it’s just a proxy to gamble for investors without transparency and controls like a typical stock or commodities market. Worst part is, it has become a de-facto standard to extract ransom for hacks or any illegal activity.