China cracking down on Crypto is due to the potential economic freedom crypto would provide to its citizens. Remember, China is essentially a communist dictatorship and the government wants to hold as much power as possible.
We live in a democracy in the U.S., so there would be a lot of steps between what it is now and Crypto being illegal. Plus, there's enough money in crypto to buy votes against legislation that would derail this ballooning industry. It may be the only time I know of that politicians being easily bought and sold may be a good thing lol