People are pretty arrogant around here, but we're reaching the next phase of crypto: Government Competition. The current crypto ecosystem is probably allowed so the tech can flesh out organically, then the best bits and bobbles will be plucked for inclusion in official government-approved currency. What State wants to be the guinia pig for any of this stuff - your whole country could collapse. Let people figure it out and give them all the risk, the State can take over later.

Other coins will be considered exclusive pathways for money laundering and will be nerfed like bearer-bonds or precious metals are in the US.

There's no actual resource - violent or material - that backs any crypto. The only backing is it's novelty. Once the novelty is copied by the State, it will be rubbed out IMHO.