> There's definitely regulation pending regarding crypto. In particular, many non-Bitcoin cryptos are likely securities. Stablecoins backings are to be regulated. And there may be mining regulation where it's not outright banned, but (CO2) taxed.

They can 'regulate' it by banning Proof-of-Work mining for 'climate change' reasons and then it will be outlawed or heavily taxed, just like in China, Kosovo, Kazakhstan and possibly Russia.

Sure, Bitcoin (and any other cryptocurrencies) can't be totally 'banned', but enough to discourage mining and using PoW cryptocurrencies via legislation or taxes.