> [...] crypto-huggers will dismiss the BLS analysis so readily at the line about banks acting as a risk buffer. [...]

For the past decade we've found out -- annually -- that internationally regulated financial provider X/Y/Z is banking narco terrorists, or sheltering funds for politicians, or being the final off-ramp for ransomware.

> Now let's do the exact same thing in the crypto-verse, except with even dodgier loans [...]

Guess it depends on your definition of "dodgier". I grew up with unregulated pay-day-loans being in every strip mall in Ohio.

> [...] rampant fraud and bank robberies.

The IC3 report <https://www.ic3.gov/Media/PDF/AnnualReport/2020_IC3ElderFrau...> on state-side fraud implies the per-capita rate of Americans scammed in 'normal banking' far exceeds the rate of Americans scammed by crypto.