Bitcoin was created to stand as a decentralized medium of making transactions from one person to another without the involvement of a third party or the government which is a good initiative towards privacy and maintaining anonymity while performing transactions but i have also thought of it in the other way round, don't we think that politicians who loot government funds can use bitcoins to hide huge amount of money such that when the EFCC want to probe them for mismanagement of funds it will be difficult to recover looted funds since they might not be able to trace it due to the fact that they have converted the money to bitcoins. Can decentralization really help us at this time when there are so many cases of financial crimes in the society?
When you talk about looting of funds and financial crimes, it is possible in every financial medium and not just with bitcoin, we have heard stories of politicians looting and hiding money in swiss banks and EFCC couldn't do anything to bring such funds back. We've had cases of money launderings and so on.
FYI Bitcoin is not fully anonymous, movement of funds can still be traced with blockchain analysis unless the person employs services of a mixer or diverts the funds into fully anonymous coins like Monero.
The only valid reason government labels bitcoin for financial crimes is because it is decentralized and they cannot control it directly and not just the financial crimes because e no get means wey dem no dey take loot money.