And presumably if nobody can easily convert large quantities of crypto to and from USD. Sure, you find an international exchange, willing to give you some other fiat, but American KYC laws are still going to be chasing you all over the globe.
I mean, it could still be used as an IOU of sorts for illegal activities. But if this is the sole remaining use case, I'd imagine there are better means for this than hosting on a public ledger.
