It has similar privacy properties as cash, so I would think governments would treat it similarly, with some reporting requirements depending on the amount.
If they do outright ban transaction privacy, at least that would involve explicit legislation with some risk of backlash - seems preferable to the status quo where the privacy violations are more covert.
If they do outright ban transaction privacy, at least that would involve explicit legislation with some risk of backlash - seems preferable to the status quo where the privacy violations are more covert.