And assuming they aren't breaking the law, exactly why would they want to do that when it's easier to just buy gold. Of course, a gold bar doesn't pay dividends or interest.I'm not ignoring it.
1) Ethereum hasn't switched yet.
2) There are still ASIC farms mining bitcoin and those consume a lot of power.
RE: the perceived benefits of crypto, I have yet to see anyone explain why these benefits are inherent to crypto in particular. You could build a "lean, green, low fee, quick transaction currency exchange system" without building an entirely new currency with no tangible backing to do so. Several governments are already working on digital dollars.
The real reason a lot of people seem to back crypto is because they're paranoid about big government and want to extricate their finances from the global financial system which seems like a completely unrealistic goal.