Here's why we, the people, need privacy, security, and anonymity (the state can deem you a criminal whenever they want): "The Bitcoin network has a governance structure in which roles are assigned to identified individuals. Authorities could decide that these should be prosecuted in view of the large scale of illegal payments using Bitcoin. Decentralised finance can be regulated as forcefully as the legislator considers necessary." Related discussion: https://news.ycombinator.com/item?id=39484482

Two weeks ago, I stated that we should expect the ECB to seek the power to enforce quasi-bans for Bitcoin and BTC mining. Some doubted this prediction. Still have doubts? “It seems wrong that Bitcoin should not be subject to strong regulatory intervention, up to practically forbidding it.”