The regulatory nodes seem to have created quite a stir! I believe this stir is partly because it is being viewed as a central authority to control the blockchain. This is an incorrect understanding of the proposal.
The top node of the hierarchy of regulation can be created by anyone.
However, those who want to legitimately (within their jurisdictions) use blockchains to improve the experience of transfer of coins (not just money, could be equity as well) can use it with the regulatory framework of the country.
Also, we must not forget that unregulated blockchains are being used as a bridge to transfer money between the legal and the illegal businesses.
By adopting the regulatory nodes framework, the transfer of coins will happen only between (or within) "well intended" regulations.
The top node of the hierarchy of regulation can be created by anyone.
However, those who want to legitimately (within their jurisdictions) use blockchains to improve the experience of transfer of coins (not just money, could be equity as well) can use it with the regulatory framework of the country.
Also, we must not forget that unregulated blockchains are being used as a bridge to transfer money between the legal and the illegal businesses.
By adopting the regulatory nodes framework, the transfer of coins will happen only between (or within) "well intended" regulations.