>>So how do they intend to track who has it and who doesn’t?
Not sure they really need to - as soon as they forbid all financial institutions from trading in it, or exchanging it for actual money, the market will dry up. Some will continue to trade it no doubt person-to-person, but if you can’t ever actually exchange it for real goods or services, than whats the point?
Here’s some other food for thought... regarding how that would shake out.
1. MANY would just put it on a secure thumb drive and hold it against the future to prove ownership.
2. MANY other countries will allow it to trade, so the market will continue but with less demand from our own.
3. Eventually, it will be reinstated.