This argument seems to miss the fact that there is no such thing as someone's "own" cryptocurrency.

The whole idea behind cryptocurrency is that you take away the issuer, controller, administrator, or authority, and replace that with cryptography.

Sure, they could still create their own money (not crypto), but they've already done that: fiat.

In the end, it doesn't matter what governments or banks do or say or want. With the technological advancement that came with Bitcoin, we don't need the government or bank anymore, or their consent (at least not where it concerns our money or financial system).