I agree with the essence of your comment that the efforts of the state to suppress cryptocurrencies (to prevent themselves from losing control) are a miserable failure.
However, the same is not true in the developing world where a number of countries have outright banned all independent cryptocurrencies and will be launching state controlled cryptocurrencies soon. Seems like they don't care much about anyone (coyotes, sheep or raccoons).
Yeah, Zimbabwe banned it and it immediately spiked by 5k. Banning hard currency is an old government play and it never works, not even when it's something big heavy and hard like gold, much less something you can memorize as twelve words and transact in invisibly and at will.
However, the same is not true in the developing world where a number of countries have outright banned all independent cryptocurrencies and will be launching state controlled cryptocurrencies soon. Seems like they don't care much about anyone (coyotes, sheep or raccoons).