That's the whole deal, yeah. Now the US government directly controls the two largest centralized exchanges, Binance and CoinBase. This is a move that both factions of the Corporatist regime can get behind of. For the pro-co-option faction (BlackRock, JP Morgan, etc) the benefit of eliminating a "rogue" actor like CZ is obvious. For the prohibitionist faction (the Dem party, the bureaucracy and its ossified bankster cronies), it is a net positive too. Both win, Bitcoin and the plebs lose.