Well, what you state is true in multiple ways. All the signs that are being sent out seem to amount them wanting to have a hold or control over citizens financial transactions as it helps monitor their activities. I find those restrictions counterproductive and would view them as taking steps backwards rather than embrace evolving (crypto) technology.

The sad part about the legislation is that is will be covering the whole of the EU therefore the number of countries affected will be 27 with a combined population (as of 2020) of 450 million. Was in necessary for them to implement this law?