As long as we still have to deal with fiat currencies, the endgame is to cash out to fiat. Turning cryptocurrency into dollars/euros/yen/naira/pesos. etc. is still something most people will want to do. As always, P2P is an option here, it's just not an ideal option given the processes involved.

While both are difficult, it's easier to buy cryptocurrency with cash than it is to cash out to local currency. We're getting there, but we're not there yet.

There no KYC when we do ForEx on a personal individual basis. We just walk into a bureau, hand over one currency, and get back another (less any fees, of course). No KYC, no fuss, no nonsense. This is how the on-ramp and off-ramp need to work between cash and cryptocurrency.

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