The great trick with stablecoins is that you can take people's money, but you can then refuse to give it back. Much harder to do with real money.
Other countries have done somewhat similar things over the last century.
On the same topic, real currency can become or be made worthless due to hyperinflation (and even normal inflation).
[1]: https://en.m.wikipedia.org/wiki/2016_Indian_banknote_demonet...
In most countries where demonetization occurs, the central bank continues to accept demonetized currency for the foreseeable future, exchanging it for valid denominations at par.
The government of India came down hard on corruption and tax evasion, more politically motivated than anything. But then people voted for it and the majority supported the process. If they didn't, the government would have been discarded in the next election.
I think people don't know how hard to moving actual real money in terms of millions to billions
[0] https://edition.cnn.com/2025/02/28/investing/citigroup-bank-...
[1] https://www.straitstimes.com/business/banking/citigroup-acci...