You're right that there is no way to fully transition over to cryptos in the current political state. That would require the government giving up massive amounts of power, and that is not were we are. I don't think they will regulate it much however. I think fiat, and cyptos will co-exist.
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Governments treat crypto as just another commodity, so I don’t think they’ll have a problem in that regard.
Your mention of regulation triggered a thought - what if they treat crypto markets as casinos?
Well that would lead to a number of dangerous restrictions.... I hope that doesn't happen.