...it's all just a blanket scam and then proceed to criminalize holding all types of cryptocurrencies.
If I was a complete pessimist, I would say this is the ultimate goal 5, 10, or 20 years from now. Bitcoin gives you options and options give you freedom. If you have freedom, you are no longer as dependent on the government as you ideally should be. Ideally according to them.
When it all gets too much for them, the elites could just decide that crypto is the haven for drug traffickers, hackers, pedophiles, terrorists, enemies of the West (Russia, North Korea, whatever is popular at the time), etc. To protect our people, we have decided to make crypto illegal. You have 3 months to get rid of it or face sanctions. Since you like digital currencies, we were kind enough to create this better bitcoin that is controlled and regulated by us (your savior's and protectors). Spend it any way you, like but for your own safety we have integrated this freeze button to stop you from spending too much or any at all because we love you and value your financial stability.