I don't sure with crypto market can exist without get government permission or regulation, many investor get difficult for withdrawing and deposit fiat fund to invest in crypto market trough local exchange after government not regulation with crypto market. I think really important with government permission or regulation with crypto market and make us easily for depositing fund and withdrawing cryptocurrency assets to local bank.
I don't see with some investor not get regulation with local exchange market in their country, how to withdraw and deposit fund to invest in cryptocurrency.
The government regulates companies, including CEXs. Therefore, Binance needs to apply for an operating license in each country. P2P market does not require it and people can easily exchange and buy and sell there.
In some countries, The government prohibits banks from serving services related to crypto CEXs, people can still send money abroad to ask others to buy crypto for them, then they trade with each other through P2P . Of course, they do not trade regularly to make profits, they trade to own crypto to protect their assets against the attack of inflation.
Of course, if the government accepts crypto as part of the economy, banks will offer crypto buying and selling services via credit cards, things will become a lot easier.