Specifically, I don't see much difference. In a decentralized one, of course, it's a plus that you don't have to pay taxes, but in order to cash out a large amount, you will have to work hard. The biggest disadvantage of a decentralized exchange is that if you made a mistake with the wallet address, then no one will return your money to you.

There is no doubt that there are smart people in the Chinese government, and at this point in time it remains a mystery to me why they prohibit cryptocurrency. It is very strange that after Bitcoin was banned in China, the rate of the first cryptocurrency did not fall much in my opinion.

I fully agree that digital money will completely replace fiat, because today most of them use contactless payments. In fact, using contactless payments and online transfers, we are already using digital currency.