Right, in a dusty corner of the world where men drive solid gold cars and women are just now ALLOWED to drive (in some areas). One of the richest countries on earth is scared of Bitcoin? What a joke. Is religion the catalyst? Doubtful, many Muslem clerics have now declared Bitcoin is allowed under Sharia Law so that can't be the reason. Don't like the fact that you can't control it perhaps? Protecting the people from themselves? Maybe, world wars have been started over this fallback reasoning. Once again, the rich get richer and the common people suffer. But, crypto will continue to be traded there and everywhere else on the planet because it really cannot be stopped entirely.
Even if there are no exchanges in country, there are plenty around the world and there's the Tor protocol. Legal or not, people will continue to trade with or without, their government's blessing. See China for a case in point. The final word in the title of the article provides the answer to why this is happening. Small minds are not exclusive to the poor and powerless. But, really, where is the threat? The Billionaire Oil Sheeks, Kings and Princes are acting like they have something to fear. Do they?
Perhaps. But lets be realistic, the entire value of the crypto market does not come close to the countries sales of oil in a few months. The continuing cry of "we are protecting the people" rings less true and is falling on deaf ears in most societies. People know when they are being suppressed, used or downright lied to but precious few will take a stand. Even in the Middle East, if populations fought for their rights it would be noticed. Problem is, most populations are complacent, they have learned to live with things the way they are so why make trouble, why try to change the way things work and risk loosing even more freedom?
And this is the problem, complacency breads control and loss of freedom. Crypto is, and always will be, a means of regaining some of that freedom. Granted, you may have to go underground in many places to exercise that freedom but, it's still better than living an oppressed life without hope. And that is one of the greatest benefits of crypto, hope. Being able to see a future where things are fair and equal and money is just a tool not a God.