Disagree. Personally I don't think that traditional system and banks are feeling so threatened by cryptos. For a lot of reasons:

• Because crypto tecnology is very interesting for banks too (the most evident example is Ripple, but also bankera and other similar project present very interesting business models) and also for governments (see for example the incoming crypto-ruble).

• Because crypto market is easily manipulated (not only with futures - 25 billion $ of daily volume wouldn't be so difficult to overpower for a group of great investors like Golmand Sachs and friends).

• Because crypto aren't enought developed to substitute traditional money - traditional sistem handles hundreds of milions of transaction/day, bitcoin is near to 400.000 and its is already near to colapse point. Other cryptos, more efficient, are still smaller in terms of market and acceptation.

• Because returns in crypto-sector are the paradise of greed and speculation, and greed and speculation are the core business of traditional system and banks.

If governments were so scaried by crypto, they could act exactly as China and kill the crypto economy banning all exchange-market in any moment. But they aren't doing. I am Italian and I was expecting European Central bank to strongly and fast react to all this, but at a public level nothing of this has still happened. For the moment, crypto sector is young and they are probably sill evaluating situation.

But, we need to continue one step at a time. Let's see what happens with futures..