Transparent if you can see it. I would be interested to know what pressure they think they can put on the blockchain itself, as a an entirely separate issue to Bitcoin. Seems to me the cat is out of the bag on that one. 'Faith backed currency' is their problem. It's inherent to their system so what's to stop you and I saying we don't have any faith in your crypto and we have decided to use a blockchain backed alternative instead. Legislation and heavy handed enforcement is their only recourse I suspect.
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@oyddodat : Well, Retail investors don't know what they actually want. So even if you & I agree to consider Bitcoin as our currency, the media & marketing team of the government (like Cambridge Analytica) will pull other confused retail investors to their side :-/