Bitcoin certainly has centralisation issues and not just from the hash-holder side:
Here's a blog post about the feud between BTC and BCH supporters and there the arguments of developer-driven centralisation comes up. The post is written from the point of a BCH adherent, but the frankly outlandish statements from Jimmy Song criticized in that post are quite real and continue to this day.
Still, blockchain tech and the dominance of Bitcoin are a reality that the US government will have to contend with, like it or not. US tarried with blockcahin adoption, much like they did with gene editing -- China beat them to the punch and took the lead. By denying adoption completely they would be isolating themselves and allowing China to expand its influence in these field even further. It will take them time, but I believe they'll be forced to adopt a more nuanced approach. This really isn't a matter of choice, in my opinion.