If exchanges followed KYC, which they eventually will, then this would also not work. If you had to prove you are an American to use the USD -> x-coin pipeline, then good luck turning your Francs into x-coin.

But maybe Zimbabwean exchanges don't follow KYC. That's great for you, but going Franc -> ZD -> x-coin exposes you to a lot of other problems.

Not a solution. You're just moving things around - and it looks even worse because now you're structuring or laundering.

Are you arguing that it would be illegal for french people to buy x-coin at ALL?

Thats completely different from "conversion" bans that you were talking about before.

Sure, you can ban the use of all tokens, but a conversion ban between 1 currency and another makes no sense.

Makes perfect sense and has been traditionally the way nations control political revolutions.

https://en.wikipedia.org/wiki/Foreign_exchange_controls

the Greenback<>Greyback exchange situation during the civil war was also an interesting example of this.

I think anyone doing anything in cryptocoins needs a serious lesson in monetary history and policy.