When you are against something because you see at as a threat to your power, you paint the opponent in terms of
a) protecting the children (often bringing child porn production into the mix somehow)
b) terrorists (everyone /anyone can now legally be considered a terrorist for no reason, if you have a lot of power, so this the go-to PR campaign)
c) playing on nationalism or racism (if things get really bad)
That's sort of how governments work in modern times. Hopefully after all the baby boomers retire it'll change a bit, but I doubt it, it will probably get worse.
It's really funny to read many of the hit pieces against bitcoin. Because they have so little to work with they have to get inventive.
Okay let's compare things to the U.S dollar. It is used for the majority of the world's drug deals and laundering, and 90% of it estimated to have traces of cocaine on the actual bills (lol!) So it would be much more reasonable to ban it. Of course, I'm not serious, but logically, that should be as a ridiculous idea to ban bitcoin for the same reasons, should it not?
http://www.acs.org/content/acs/en/pressroom/newsreleases/2009/august/new-study-up-to-90-percent-of-us-paper-money-contains-traces-of-cocaine.html As for money laundering... for bitcoin is also a bad idea because the block chain is public! But anyways. Logic and rational thoughts are not what policy is based on. Policy is generally based on expanding and reinforcing your power.