Which still does not prevent it to block you from your money in the event of a very sharp recession or depression to "avoid bank runs". It has happened every time in every country where the government actions have fucked the economy. The people are the ones that pay.

I wasn't making a point about centralised or decentralised currency/money/finance?

It was regarding the 'regulation' thing. Cryptocurrency is only ever going to work for John Everyman if the industry starts to mature a bit. Blaming the user when another exchange gets ripped off doesn't exactly scream 'legit', does it?

Coinbase also doesn't pretend to be decentralized and the bank analogy holds pretty well for them.

I'm not sure it's meaningful to say cryptocurrencies are decentralized. Decentralization is more of a social phenomenon than technical, e.g. cash is decentralized but socially we've found advantages to centralize.