"in regulating" is grammatically correct and can be used in written English.
It is typically used to show the action or process of controlling or directing something according to a set of rules or laws. Example: The government plays a crucial role in regulating the stock market to ensure fair and ethical practices.
Exact(56)
"I'm not interested in regulating just for the sake of regulating," Mr. Obama responded.
Insulin is also important in regulating lipids.
Meanwhile, the commission is preparing to play a more prominent role in regulating the telecommunications market.
The article also referred imprecisely to the government role in regulating such supplements.
However, we know hormones play a hugely important role in regulating human behaviour.
The government's main aim in regulating labels is to prevent consumer fraud.
The amazing Arctic also plays a critical role in regulating our climate.
Finally, his recommendations gave politicians a hand in regulating the press, albeit via an underpinning statute.
The precariat must be involved in regulating flexible labour, social security institutions, unions and so on.
The drug inhibits an enzyme that may play a role in regulating metabolism.
The state's interest in regulating abortion previability is considerably weaker than postviability.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com