Bitcoin has this exact same problem. In order to actually use your Bitcoin, you need to sell it at an exchange. Since Bitcoin has no L1 privacy, if you’re an entity the exact same group of people don’t like your Bitcoins will be seized at the exchange when you try to convert them to useful goods. Bitcoin has done nothing to address this problem, even though Satoshi Nakamato himself said of ledger privacy, “If a solution was found, a much better, easier, more convenient implementation of Bitcoin would be possible.”
https://bitcointalk.org/index.php?topic=770.msg8637#msg8637
The solutions were not only found but implemented by Monero. Many people, including myself, have advocated for ledger privacy to also be implemented in Bitcoin, as Satoshi advocated, but now Bitcoin core is in the grip of Saylor and Blackrock types who say it is bad for Bitcoin treasury companies and private equity.
Sorry, Bitcoin keeps you on the ZOG financial grid just like everything else now. Monero is the only major asset with any degree of liquidity that actually addresses this problem.
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