[JumpCrisscross]

> many nations will jail centralized issuers

Central banks (and the related monetary presses) are “centralised issuers.” Nobody is jailing them.

Moreover, creating a private currency is legal in most states. (It usually takes the form of IOUs.) People don’t do this because it’s unprofitable. You need additional motivations, like cultural preservation, to counterbalance the economic cost.

[caprese]

and where banks get settlements for non-compliance, non-banks get jail.

its not usually because of the private currency, its the compliance, the crowd that flocks to them, the contents of the server, with the sanctioning being almost exclusively on the issuer.

permissionless distributed ones don't have this issue