It is a very good initiative that our Gov. need to step in and start to do something about it although this will cause a lot of limbo towards many parties but no matter what circumstances this step have to be taken even tough we cant be sure what is the actual conspiracy behind (thanks to our Gov. reputation).
The only way to prevent abusing crypto with any illegal activities which do more harm to society is to regulate it but of course we will never know this regulation will enchance crypto efficiency in our country or create more troublesome procedures towards crypto society in our country. (as you said the understanding behind blockchain technology)
Finally, agreed to you let’s joy at the efforts on baby step ✌️
RE: Legally Yours : Perusing Through BNM Draft Regulation