SEPA Instant works pretty well, but you can't compare it with crypto. You have to 100% trust banks and governments.
I think Bitcoin and other mined cryptos can be made more energy efficient in other ways, I'm sure smart people are working on it. Imagine if mining required some human work just like mining an ore, then you couldn't just stack thousands of miners in a warehouse with 2 people to take care of it, you would need more and more people, and that would limit the number of miners.
I think it would be better if instead of mining cryptocurrencies by solving random equations, there would be so relevant problems for miners to solve, for example they could give their memory for cloud services and be rewarded for that. It seems foolish to waste all the computing power on crypto transactions that can be done much efficiently by already existing technology, like I said the SEPA instant trasfers consume fraction of computing power and energy when compared to any cryptocurrency...
Also banks and governments are already trying to regulate cryptocurrencies, even nowadays you have to pay taxes on them in most countries.