Fractional Banking!
At the risk of appearing to be the last person to finally 'get it', it just occurred to me why banks hate cryptos and it's far more than just that they remove peoples' deposits from the banks. Cryptos make ordinary people holding their money outside of bank control direct and far more efficient and fair competitors to banks - and banks' profit earning potential.
Without depositor funds backing banks' ability to loan 90-percent of depositors' funds plus the banking double-dip scam of depositors' 'sweep account' funds, banks lose out on a still relatively small, but ever-growing mountain of profit. We should also know that when banks lose money, incumbent politicians lose their seats. It's such a simple dynamic and as George Carlin used to say, "... it's a Club, and we ain't in it!"
All the banking and governmental faux concern of caring about protecting poor little investors being scammed by the evil crypto system would appear to be an example of psychological projection. The motives are blindingly obvious and more and more citizens of the world are waking up to the game.
Good fortune to all.