What you have articulated is at the crux of the matter. CONTROL.

To Barrack’s question:-

That is, I believe a critical component of Policy and how the government of the day chooses who is appointed to what docket. But to answer your question in a straight forward way:-

If I were the Governor or CS Finance I’d first take the steps to ensure public interest is preserved. I would then call in the proponents of this particular case and try and find a way for them to work together as we extend our policies and regulations to encompass cryptocurrencies. The fact that we ignore them doesn’t mean they don’t exist. I certainly don’t want to be the proverbial Ostrich sticking its head in the sand and wishing away all its problems.

But then, this is just hypothesis right? :-)

My humble advise to Regulators the world over:-

Don’t be like the Ostrich. :-)