But it’s not widely used, that’s the whole problem.
Say you created a business accepting exclusively cryptocurrencies. You need to ship an item? You need “dirty fiat”. Let’s say you’re only selling NFTs or services, your hosting provider wants paid in real currency. Food? Housing? Utilities? Fiat. Fiat. Fiat.
Unless it’s accepted for the entire supply chain of LIFE, you’re screwed.
Look at bittorrent. While it's impossible to kill it, targeting agregation platforms definitely made the protocol immensely less relevant than it was 20 years ago.
Seems like a mix of port blocks and criminal penalties, while not killing cryptocurrency, would greatly hinder its overall utility and thus any associated fiscal value.