The world is a big place and most nations (including close US allies) actually have contrary interests to the US on this issue. Only the US wants to preserve the USD as world reserve currency, which is what this is about.
If the US government wants to try whack a mole against US based witnesses (who can go completely anonymous if required) they will fail.
The most they will do it drive the best and brightest out of the US.
No one knows who many of the biggest Hive whales and witnesses even are.
This will just push US based witnesses to go completely anonymous or leave the US.
Frankly any US person with significant crypto assets should consider getting multiple passports and moving to a low tax, crypto friendly jurisdiction.