> The Feds and the bankers hate it because it's a direct threat to their business model. There's no room for a middle man to fugazi in btc.

Crypto has spawned their own classes of middle-men.

At best, you have a changing of the guard - new boss, same as the old boss. At worst, you have traditional finance buying a stake in crypto and ending up in the exact dominant same spot they were before. And of course, all of these people have to do business on the terms of their host countries.

Crypto does not herald a new set of rules, it merely aims to be a new mechanism by which value is transferred, which by most objective measures it's very bad at doing.