It's because cryptocurrencies can be anonymous and so can't be taxed nor controlled . Banks are not even needed. The left hates decentralization. They left want the government to own and control everything (socialism) which is the ultimate centralization.
I'm for competing interests. A privately owned for profit business that has competitors is accountable to customers and the bottom line. A government bureaucrat in a government agency like Comey or Lois Lerner are not to anyone
You said it very well. Distributed versus centralized. I am going to use that.