[riskneutral]

> I really want someone to ask Janet "do you have plans to ban Cash transactions because they are used for illicit activity?"

There are already existing controls on cash transactions. If you deposit cash in a bank account, you need to prove your identity and you're subject to anti-money laundering surveillance. Securely transporting and storing large amounts of physical cash, outside of a bank, is very difficult. I imagine that making or receiving large payments with physical cash is often impossible or would attract a lot of attention from authorities and perhaps even criminals.

> I would guess USD inflation is far worse than expected and they know Bitcoin's initial intended purpose (as an alternative to government money) has come to fruit.

Gold can play the same role, and has been banned in the past, but is unlikely to be banned again. The more likely story is that there are serious money laundering and terrorist financing risks posed by Bitcoin's intended purposes, and governments are trying to figure out how to get a hold on the national security / law and order situation without being to heavy handed.