> You implicitly assume that when governments start to burn the bridges between fiat and crypto, it is the crypto holders that will run to the fiat side before

> You implicitly assume that when governments start to burn the bridges between fiat and crypto, it is the crypto holders that will run to the fiat side before the last bridge is gone. But it could also go the other way around It cannot be the other way around. KYC and AML regulations will choke crypto overnight if it cannot at least theoretically access a pool of USD.