The cool thing about cryptocurrencies is their censorship-resistant, bearer instrument-like characteristics. If you get on the wrong side of your bank, or someone with influence over your bank, you risk having your assets frozen. But if you get on the wrong side of your bank, or someone with influence over your bank, there’s not a whole lot they can do, without access to your private key, to seize your bitcoin, or to stop you from interacting with the bitcoin-denominated economy. Cool, it would seem.
And yet, consider a scenario in which the government sends you a polite letter in the mail requesting you, a cryptocurrency owner, forfeit your holdings in exchange for a government-issued currency.