Well, partly. Cryptocurrencies rediscovered why there are so many regulations. But they also enabled near-instant (hours) cross-border transactions in a way the existing system just can't do because it is too ossified. It also allows people to opt out of regulations they feel are getting in their way too much, which is a good check against over-regulation.

In other words, both the old way and the new way have value. The perfect ideal system is probably a synthesis of both, but in lieu of that, we can have both separately.