Propaganda always works best when it's true, but selective. People that ended up homeless heroin addicts 2 years after smoking cannabis exist, the propaganda just neglected to mention that they are a minority.
Just like the failure of the war on drugs, trying to ban crypto and arresting anyone that owns it would almost certainly be a dismal failure.
That's why the on and off ramps should be regulated, heavily, instead.
Presuming you want to 'kill' cryptocurrency, starving it of interactions with the real economy seems a much easier way to do it.