I think they are actually worried about bitcoin. It is bitcoin which has all the features they fear, and which has the widest use, widest adoption, widest user base. And after all, if they really wanted they could just seize all the fiat belonging to a stablecoin issuer and destroy that stablecoin literally overnight.
I meant the same oeleo but didn't quite came out right. That is why quoted the El Salvador example..LOL. It is interesting that the banks always refrain from naming Bitcoin directly and just use the label "Private Digital currencies". I wonder if a jury was to deliberate on this in any of the presumably great democracies, would they classify Bitcoin as Private? Can Open Source Software be labelled as "Private"?
If not, then what do they have against Bitcoin. They may label everything else which is a foundation/ corporation coin (ETH, ADA etc) as private, but not Bitcoin.
The only thing that needs to be adjudged is that should state have the sole authority to judge what money is or how people exchange value? Going openly against Bitcoin is like going against democracy and freedom to choose. This is why they will continue to be subtle in undermining Bitcoin. Of course not so much in Russia, China or third world countries.
I believe in that 2 years, they’ll discover the truth for themselves. That there’s nothing that they can do to put the genie back in the bottle. The invention of Bitcoin has opened a Pandora’s Box with new possibilities. It definitely WILL BE harder for the central bankers to control the monetary system, but they did that to themselves.
That is the most logical course that things should take. Though it takes one back to the same question. How far will nation-states go in their pursuit to suppress bitcoin and stop it from loosening their grip on power?