All these developed world economies are clearly not interested in doing any framework to ease the job for cryptos to replace them. Think about it, will you help your competition ?
Smart contracts, DAO and all these emerging decentralized technologies surfacing right now will soon make regulators obsolete because there is no territorial jurisdiction for these technologies. They can operate like when you do a torrent file transfer, all peer to peer obeying the rule of the software that runs them.
Fortunately, we are seeing the very last stages of regulation by just a handful of so called powerful countries.
The fact that they haven't been able to craft any meaningful framework to regulate crypto activity is evidence that the genie is out of the bottle the same way Covid19 was able to escape from a chinese lab that was financed by these same western institutions.
Had they wanted to stop crypto in general, they should have done it with the first centralized exchanges that made people convert crypto to fiat, but even if they had done it at that time, they couldn't have avoided it, just delayed it. But as incompetent as they are with the taxes we pay, they are also incompetent at controlling any good or adverse technology from developing in the future.
RE: Regulators Need To Regulate but They're Doing It Wrong.