I got an interesting question today but wasn’t too sure on the answer!

Oredman99
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Hopefully some of you can shed some light for me on this topic, or share some of your opinions, I have an economics degree with a basic understanding of CBDCs, and their differences from privatised cryptocurrency’s etc.

The question I got asked was, central banks and governments seek total control over the population, private cryptocurrencies take away some of their power, what happens if/when they release their CBDCs that they associate all private crypto’s as related to drugs/crime, holding and trading is illegal etc etc. His opinion is there will be an offer to buy all private crypto holdings as a set price in return for a set amount of the CBDc.

In what ways would this not be feasible/what is stopping governments doing this?