Agreed, I think that is my most significant hesitation with cryptos. That being said, there clearly isn't a consensus view yet on how to regulate, which I think will mean slower regulations to be implemented. It's important to note that drafting of rules still results in at least a 6 month lag time to implementation, assuming adoption. Given South Korea's recent announcement that they're holding off on regulations for now (but monitoring closely), I think it's clear that governments don't yet understand blockchain well enough to feel confident in enforcement.
That all being said, it's definitely worth folks monitoring the regulations of their home countries carefully - this is definitely the chief risk in my opinion for investors (followed by sheer investor-driven volume volatility).
The government will continue to learn and figure out ways they can get a piece of the action. This has already started in the way crypto gains will have to be reported when it comes to taxes. Once they gain a full understanding I'm sure there will be more and more regulations to come.
@cryptographic will you be posting your trades in and out of BTS anywhere?
The key word you mention is enforcement. That will be difficult for any government to do given the decentralized technology of these assets. I feel that they are also trying to expect their financial system and fiat currencies given the inefficiencies they know exist with them relative to some of the Crypto assets available today.