Exchanges are the low-hanging fruit for attempts to "ban" cryptocurrencies. This well-known pressure point has been used for years now. There's nothing new in t

Exchanges are the low-hanging fruit for attempts to "ban" cryptocurrencies. This well-known pressure point has been used for years now. There's nothing new in that sense. What isn't well appreciated is just how difficult it will be to ban the transaction of cryptocurrencies outside of a government monetary system. Remove the exchanges and there goes the leverage. What also isn't well appreciated is that clamping down on exchanges is by far the best way to ensure a transition to a self-contained cryptocurrency economy that requires no on- or off-ramps. The more governments try to exploit their leverage with exchanges, the more they drive use patterns that will ultimately render that advantage useless.