Well, sorry to bust your bubble @op, centralized exchanges won't be banned, at least, not the big ones that comply with the laws of the land like binance, coinbase and the likes.
Government need money and more money, and even more money, and sometimes, they don't care how it comes, as long as the money is coming.
To be sincere with you, governments don't have a problem with crypto, why it seems they are so head bent on banning crypto is because they haven't figured a way to tax users yet, as soon as they figure out an effective way of taxing users and holders of crypto, you will see that all this threat and brouhaha of banning crypto will be a thing of the past, their major anger right now is that citizens are moving their fund to crypto to invade tax, once the government of the world figure out a way to effectively tax crypto holders and crypto business owners (this includes centralized exchanges), you will see that crypto will be made legal in many (if not all) countries of the world.
Then why China decided to ban crypto exchanges and miners when it had the opportunity to collect huge profits (taxes)? If China did this, then it's possible other countries will do the same if they see their monetary system (Fiat) being threatened by crypto. It's as simple as that. A crypto world without centralized exchanges would certainly look a lot different than what it is right now. It's likely prices in terms of Fiat will be much lower because institutional investors and other big players will be left out of the game. Decentralized exchanges will take over the industry, but mainstream adoption will be so low that crypto won't be as recognized the same way as it is right now.
If you're into crypto because you believe in its technology, then this wouldn't be much of a concern to you. But most people are into crypto for the money, so they would simply panic when their government takes the approach to ban crypto altogether. What matters is that crypto stays decentralized in order to stand the test of time. As long as it stays that way, there should be nothing to worry about. Just my thoughts
