That's true, but there's ongoing work about this to add some kind of plausible deniability to all transactions. There's also privacy coins like Monero where thi

That's true, but there's ongoing work about this to add some kind of plausible deniability to all transactions. There's also privacy coins like Monero where this problem has been solved already. Many institutions then banned Monero, but they won't be able to ban all cryptocurrencies if they get on par with Monero's privacy protecting techniques.