Great piece. Governments CANNOT ban cryptocurrencies because many like Zimbabwe see Bitcoin as God sent to save their failing fiat currency, others like Tunisia have moved their national currency to a digital platform and others like Senegal are working on a digital version.

Governments like banks are scared of people power. They are scared of one of their great leverage points - exerting control over people. Since cryptocurrencies represent people freedom and a reclaiming of people control over their most valuable assets, money, it puts governments on the back foot. And since they need people to function, they have no choice but to follow the financial revolution albeit reluctantly, and with calls for some regulation.

Finally, cryptos will meet governments and other bodies somewhere where regulations of some form take shape.