The US doesn’t produce much manufacturing. It runs massive trade deficits and it has huge budget deficits. Why is it still powerful? It’s the financial hub. Regardless of where people earn their money, they want to invest it back into the US.
If the US were to implement capital controls that would disappear. It would be a late 1980s Soviet Union. A strong military and not much else. That limits what it can do to crypto.
I think that’s incredibly naive.
I don’t think the governments of the world would even need to pass any new laws to ban crypto outright.