Whatever "Not actually.." is proposed; whatever Talmudic twisting of words and definitions you want to apply, the same effects are coming:

1. The end of internet anonymity, probably with some "biometric" Mark-O-the-Beast™.
2. One-click immobilization, impoverishment, or even "un-Personhood" for 'troublemakers'. Guess who decides what a "troublemaker" is.
3. Panopticon-grade tracking of movements and spending patterns.
4. Unavoidable taxation at every level of exchange.

...and that's just what .gov can do 'for' us. I'm sure the hackers and scammers can figure out other methods for mischief.