This is quite true. Many of the calls for regulation by "crypto people" which I've seen are really just a reaction against an uncertain regulatory environment.

This is quite true. Many of the calls for regulation by "crypto people" which I've seen are really just a reaction against an uncertain regulatory environment. In short, they just want the regulators to make up their minds already. The biggest wildcard and source of volatility in the crypto space, IMHO, lies in the inconsistent and unpredictable responses we've seen from politicians and bureaucrats, not the tech, the state of the market, or the possibility of falling for some kind of scam. However, one should keep in mind that certainty is not necessarily better—it depends on what the rules are. Operating in a grey area is better than being banned outright, and overly strict regulation can nullify all the advantages of a new system by forcing it into the mold of the old system it's meant to replace. The ideal outcome is that they explicitly adopt a hands-off approach so that the threat of adverse regulation is removed without being replaced by known adverse regulation in the present.