It is best to use a terminal block, like this . This is what the batt terminal of your regulator is being used as now, a connection point for all the hot wires. Connect all 3 wires to a terminal block and dead-end the blue wire. Put the regulator up on a shelf. Someone will need it some day.

"It's just a phase. He'll grow out of it." Mama, 1964

1956 Chevy 1/2-ton 3100
1953 Chevy 6100 "The Yard dog"
1954 GMC Suburban Now with a new proud owner.