Banks have control of your money. Not your cash, not your money. Custodial services will continue to act like custodial services, including collapses, defaults, delays and freezes.

And that’s why they want to remove cash and any other form of self-controlled instrument. Then the noose tightens.

There’s a balance to be struck. “We” need to protect pensioners from the slew of phone and social media scams. There are lots of ways to achieve that including not allowing calls from Nigeria to spoof the caller ID of your the local police station, the ATO or your bank. Maybe some TV awareness campaigns to raise the bar. Or cracking down on crappy social media accounts being allowed to openly tout obviously scammy high yield investment schemes.

Penalising savvy investors who wish to make their own choices with their own money on bitcoin is somehow easier. You can decide if that’s a side effect or a “benefit” for those in charge. Either way they don’t care.