The thing is, when regulators make these strict regulations, they stifle innovation and those innovative companies, just move operations to a area where they are welcomed and less regulated.
These innovative companies create jobs, and they bring extra tax income for that area.
If their political incentives is bigger than their need for jobs and tax income, Bitcoin will suffer and the innovators will have to move.
Some of these regulators are funded by Banks and other financial institutions, so there will be a hidden agenda.
