Depends on how each individual institution handles it:
Some exchanges and banks to trace lets say the last 20 hops, and if these are OK, then they accept the coin.
I know also about institutions which trace ALL hops, meaning: At their desk you cant ever sell a coin that has been in the dark only one day since its existance.
Most have a relaxed approach, like "if the coin wasnt in dirty hands for the last 5 or 6, its OK for us"
This seems like an absurd rule in the context of a blockchain that allows spinning up new addresses for free, and sending transactions between them almost for free.
Some exchanges and banks to trace lets say the last 20 hops, and if these are OK, then they accept the coin. I know also about institutions which trace ALL hops, meaning: At their desk you cant ever sell a coin that has been in the dark only one day since its existance.
Most have a relaxed approach, like "if the coin wasnt in dirty hands for the last 5 or 6, its OK for us"