In fact, much of it is. There are many many laws on the books that already cover digital currencies. Just ask the people who have been arrested for transacting too much without a licence. Financial regulations and consumer protection laws still apply.
The ecosystem is also self-regulated in many ways. I don't mean in the whole sense of that loaded phrase, but simple things like the rules to create and maintain the money supply and rate of that creation or the fact that you can transact without the need for a bank that needs the oversight. Bitcoin, done right, doesn't have someone else in a position to abuse trust of leaving you money in their hands.
I'm sure there are things that need tweaked, but the "Wild West" notion attributed to Bitcoin has more to do with a lack of understanding of how it works by users than a lack of rules to govern it's use.