Akin to pot in the United States?

You are correct. It is absurd to think that the nation-state really matters when it comes to a digital asset like cryptocurrency. Technology knows no geographic boundaries. Instead of eliminating it, it simply moves elsewhere. What is ironic is the technology they are trying to control is designed to be uncontrolled and is not tied to any nation. This is the power of it.

Ban away...even if they go after all the exchanges around the world, a decentralized one(s) will appear overnight.

Sorry but this is even more absurd than prohibition was. At least the US had a chance to control the booze...no country have a prayer of controlling cryptocurrencies.