Every person that keeps their Bitcoin in a wallet where they have the private keys, owns their Bitcoin.
>What do you think crypto exchanges are? Crypto exchanges are platforms where you can buy or sell your crypto, either for fiat or for other crypto. Seems pretty simple. Some exchanges are large, like Binance, but it is wrong to think that they are like banks. Most people understand that the exchange is only used for buying or selling, and then once that activity is done, you transfer your crypto to a wallet where you control the keys.
People don't keep all their crypto holdings on the exchange (well some might) but the majority only use exchanges for buying/selling. With a bank, we keep all our money with the bank in an account/s. Some people keep cash in other places, but to think that exchanges are like banks is incorrect. So it is not the new boss. IF there were no option to withdraw crypto from exchanges into private wallets, then yes, that analogy would be correct. But it isn't/
The whole point of crypto is to become sovereign, and have your finances not able to be controlled by the state.
The state is not your friend....unless you are a communist, and like to lose all your assets and become poor.
Who do you think controls BTC? What do you think crypto exchanges are? Meet the new boss, same as the old boss.
https://hacken.io/industry-news-and-insights/the-major-crypt...
All BTC would do is forever entrench the power of the Capital, while weakening the one entity strong enough to take it on: The State.
It would condemn us to forever be under the control of finance cartels, with no control mechanism to reign them in.