I guess this is all for the control of the use of cash. You and I know that cash can be abused. In fact, it is already used by many criminals. Drug lords, terrorists, and other huge syndicates are mostly using cash. This is actually detrimental to the economy of the country in one way or another because by limiting the use of cash, the people will be limited in their spending and expenses. That affects the economy. This might really be another reason for the people in this country to use crypto instead.
WTF man? Do you want to make physical cash illegal just because a few criminals use it? And do you really think that criminal activities can be prevented if we replace physical cash with digital versions (either digital versions of fiat, or cryptocurrencies)? IMO, it will just have the opposite effect, as most of the crime syndicates have now found methods to launder cash using these digital payment methods. The real reason for this move is not to prevent money laundering and crime, but
to spy on the citizens to find out from where their wealth is coming from, so that they could be taxed more efficiently. Yes, but this is about not just citizens, but about very wealthy ones, those who can afford spending over $6,000 on goods or services at once. Maybe it would be not that bad if such people could be taxed more efficiently. But that's of course if the money from taxes wouldn't be stolen by corrupt government officials, which is frequently the case.