The regulation that is most likely to happen is regulating US firms (banks, hedge funds, etc.) to disclose positions (treating crypto more like a stock than a c

The regulation that is most likely to happen is regulating US firms (banks, hedge funds, etc.) to disclose positions (treating crypto more like a stock than a currency) over a certain percentage much like they do with stocks and other securities. This is considered regulation but it really doesn't prevent or control activity just makes them report holdings. The other regulation might be proof of origin of funds - like if you get a gift from a relative that you use to purchase a home and a mortgage for the balance. The bank issuing the mortgage has to ensure that you aren't bringing illicit funds into the transaction and laundering it via their mortgage service. Whatever that regulation is called could apply where they have to prove US firms aren't moving illicit funds around, etc.