It's more of a concern for those that have a lot of fiat & very little Bitcoin.

It's almost at the stage where it's easier to buy some sats from non KYC sources than through regulated exchanges. These are typically sold in small amounts meaning it's easy to get enough fiat to pay your bills but harder to save your fiat savings.

If the govt bans it, they lose all tax revenue from CGT & also exchange profits. They're incentivised to keep it taxable.

It seems that there's always someone at a Bitcoin Meetup wanting to buy sats. They're not always able to find a seller though.