Cryptocurrencies have come a long way from being abstract entities on the deep web. These days, we can openly trade cryptocurrencies on registered platforms and even pay taxes on the same. At the same time, there is no central figure that regulates the currency.

In the light of the above paragraph, consider the following statement. Cryptocurrencies should be regulated by governments in the long run.

Do you agree with the statement? Why or why not? Provide arguments to support your answer.