I don't disagree. But I think the broader "success" of it is a portent of something bigger. Enthusiasm by a #3 you never mentioned: powerful financial interests (legitimate and illegitimate) who want to move capital outside the explicit view or mgmt of the state.

In any case, every time I get a recruiter pinging me about some "crypto" job I almost want to respond with "Not interested. But do you have any jobs that are actively working to suppress crypto?"

I don't like working for government, but man I'd almost take pleasure in working for an entity doing forensics to trace illegal transactions through the blockchain.