That's my point, for the first decade or so they didn't even bother considering it to be a taxable form of income, which sent out the message that it's not a significant threat to the US government. In the time since all they've done is tax it the same way they tax conventional fiats; it's never been treated as a credible threat by the United States government.

I think there are some sound-bites from Trump-45 calling it a scam (in strong contrast to Trump 47) but even then then he never tried to do anything about it. If trump gets on Truth social tommorrow and fires off a tweet about how Bitcoin is a chinese threat designed to destablize US hegemony and circumvent tariffs and he's going to sign a legally-questionable EO to ban it, bitcoin's price would go up "bigly". Same would apply to the EU or any other major economy, although i will grant that it might not be to the same degree since nobody pisses people off the way trump does.