[sph]

> You could just ban exchanges.

US has tried the ban hammer both for alcohol and then for drugs, how has that worked out for them?

That would just create a massive underground black market, this time even more pernicious because it's international, with state-level actors.

[vangelis]

Where does the clean money to exchange for crypto come from if there's no legitimate on-ramp and off-ramp? You could at least exchange drugs and alcohol for dirty fiat.