You are confusing markets with assets.
Trading bitcoin is mostly done in regulated markets on regulated exchanges.
Trading anything on an unregulated exchange in an unregulated market is suicide, this is common sense.
Discussion
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.
There are regulated exchanges and markets for bitcoin all around the world and the volume is certainly not a "minority", the decentralized exchange volume like Bisq and the like in comparison is minuscule.
Regulated markets have the most volume for a reason.
Also literally no one said bitcoin itself cared about law.
Mining pools could be required to not include transactions that were not initiated by a Virtual Asset Service Provider like a CEX .