Banning cryptocurrencies is a foolish idea; all we need to do is regulate the exchanges.
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The place where someone accepts play money and puts spendable money in your hand, or accepts real money from you and tries to move it, is the correct locus for cryptocurrency regulation and enforcement.
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The Cuban Convertible Peso is also a stablecoin, but one reason it hasn't taken over the economy is because it's very annoying to try to trade it for the thing it's pegged to. Let us all study and learn from the Cuban Convertible Peso.
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You can turn a wallet full of cash into a bank balance, but trying to do that with a suitcase or boxcar full of USD brings many new and very inquisitive people into your life. Do the same for crypto.
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