It’s harder to enforce regulations for self-custody crypto than it is to enforce regulations on centralized banks that hold wealth for you.
Mostly because it’s harder to confiscate (more akin to a physical item in your possession)
Mostly because it’s harder to confiscate (more akin to a physical item in your possession)
Why? It is just as easy to regulate as any other tracked asset. Physical items are much harder to regulate.
China simply hasn't started enforcement.