A nuclear reactor is a chunk of plutonium that is continuously releasing neutrons. The energy it makes depends on how many of those neutrons are flying around in there. If you make a hole in the core and poke a rod of barium into it this will mop up those flying neutrons and lower the energy production. Poke it in all the way and the energy will die down to just a trickle. But take the rod out completely and the core will explode in a massive burst of energy. The trick is to poke the rod in and out just enough to keep it ticking over, to keep it on the brink of exploding. Then it provides huge amounts of energy that can be beneficial.
Regulating crypto is in many ways the same balancing act. The core is the crypto technology, the rod is the body of regulations. Put loads of heavy regulation in place and the tech-buzz will fizzle out as start-ups go elsewhere to do their innovation. Take the regulations away and the crypto explodes with wild-west scams, crashes and disappearing CEOs.
Europe and the UK are both in the process of sorting out regulations to dampen down the tech, and bring it under control.