Perpend the reality that the derivatives are being regulated, not banned.  What, do you suppose that CME is being banned?

The upshot is that those who obey buy the regulators can fuck our Bitcoin markets with a rusty pipe—you know, the fine folks who are “too big to fail”—while everybody else is denied permission to do what they want with their “permissionless” bitcoins.

Just like the dollar markets, but with Blockchain!