It makes sense though, doesn't it?

If we lived in a world where cash didn't exist, and our world only had fiat transactions via online payment methods, there is going to be no government in the world that would invent and try to implement cash. Why?

Because cash is literally the best thing criminals can ever have, even better than cryptocurrencies and privacy coins since it's fiat-based and fairly easy to smuggle.

I don't think this limits bitcoin traders that much, more of a blow to the big whales that deal with cash a lot, and I respect this from the government, it'll make crime harder to do.