You're missing the point. Cryptocurrencies are specifically designed to evade regulations. Everything else —efficiency, cost, convenience, usability— is sacrificed in order to achieve this goal.
Call me old school but I don’t understand the hype about regulations. The less power the government has, the better. They certainly don’t need to know my spending habits. And a stack of banknotes evade regulations pretty well anyway.
The function of the state is to enforce private property rights. Regulations exist to alleviate the consequences of private property rights by adding various forms of exceptions. Whether you think that's a good thing depends on whether your idea of utopia is a egalitarian commune or a neofeudal federation of corporate city states.
Note that I'm talking about private property not personal property. Variations of the latter exist and have existed in almost every society but the concept of the former has increasingly been maximized to the point that patches of land, ways to do things, ideas in your head and sincere promises are now things you can own and exchange and people refusing to suffer hunger or lack of shelter are seen as unreasonable if they want to use what isn't eaten or isn't lived in.
Abolishing the state as long as other organizations (or individuals) are allowed to hoard resources/wealth/power seems as catastrophic a suggestion as abolishing the police as long as other gangs exist. You're just substituting one evil for another without affecting any material change.
