Because Crypto is linked to Fiat and most people exchange Crypto for Fiat,   governments will always impose regulations on it. Here in the UK if I exchange  Crypto for Fiat it is taxable If I exchange amounts which go over £12,300 I have to pay capital gains. From the Government website  "Anyone in the UK who holds crypto assets as a personal investment will be taxed on any profits made on these assets. Saying that you only have to pay capital gains tax on overall gains above the annual exempt amount. ... According to HMRC, the capital losses from cryptocurrency can be considered for the tax liability"  So Crypto is not as anonymous and free from government interference as people like to think if you are exchanging for Fiat.