If you believe those things, you should be asking for crypto to be outlawed, not disingenuously regulated for the underhanded purpos of outlawing it.
"regulate it into the dirt" is commonly understood to mean the very real practice of placing so many restrictions/conditions on something that it becomes impractical to operate within the industry of whatever "it" is while explicitly not actually banning it outright.
I tend to agree that there's no reason it should exist, but I'm open to the idea that maybe there's a worthy purpose out there that I'm missing.
But then again, what if what I mean by ban is a "partial ban." Opportunities for misinterpretation abound!