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The biggest reason why Monero cannot and will not be the #1 crypto is because it is developed to be 100% anonymous and untraceable. Lawmakers and regulators will not allow something like that to have widespread mainstream use.
Lawmakers and regulators will just legislate and regulate the on and off ramps and the service providers as they are currently doing with Bitcoin, and have done with cash for years.
Agree, another way is that they could opt to use the viewkey so the transaction is visible. In the same way as the current dev donation adress. If I am wrong about this, please correct me.