If you are active in crypto trading, holding etc. Then you will undoubtedly have noticed that the "crackdowns" are expanding and the exchanges are following suit very quickly. "Traveler", a company that detects address-to-address verification, making sure where you send your asset, is part of a system that is approved by the TRISA directory. Crypto.com and Binance are currently using this shit, meaning others will follow suit.
The more crypto enters the retail and industry markets, the more they are finding ways to ensure they can track your transactions, assets and value.
We meet again, KimJung-Un!
I agree with you about crypto -- also, I believe that each one is designed as a quasi-Ponsi scheme, where those first in get rich on the speculative fever of others, and where those still holding at the end (when the US and most other nations follow China's lead by banning crypto, for one possibility) lose it all.