So far the only places to fully ban cryptocurrency (afaik) have been authoritarian countries like Russia[1] and China[2]. The US banning an emerging tech would not be a good look.

[1]: https://www.coindesk.com/policy/2022/07/15/vladimir-putin-ba...

[2]: https://www.euronews.com/next/2021/09/24/china-s-makes-all-c...