Bitcoin is certainly an asset that's not regulated nor is the market regulated unless you're looking at a minority of centralized exchanges or the ETFs. There may still be some archaic laws on value transfer but Bitcoin certainly could care less about enforcing those as a standard.

Bisq and RoboSats would also likely disagree that unregulated exchanges are suicide. They seem to service their market well without need for state sponsorship.

Regardless I still stand that state sponsorship or regulations on how money can be moved between free participants do anyhing to make assets any safer. GameStop holders would likely be questioning where their protections were when the market makers didn't like the way things worked in their regulated market.