Regulated and controlled CEXes and ETFs have been allowed in order to control the market, increase institutional custody, gain kyc surveillance and limit as much as possible the development of kyc free P2P options.

The governments and bankers are seeking to capture and control the protocol...and they are.

The more Bitcoiners become aware of this the more we might reasonably seek to use non captured markets like robosats and bisq. The more Bitcoiners who use these non captured markets the more liquidity they will achieve.