Some countries don't allow people to invest in ICOs. Why is that? They don't allow ICO that issues dividends and represents the shares of a company, or they just ban all the ICOs?
Simple,the governments don't get to make a penny from it while people make lot of money in terms of investment and returns.
Specifically speaking not all the countries care only the highly commercialised democratic evil America and China have those rules applied last time I checked.Having said that,if you want to invest in a particular coin you can always do that with keeping enough anonymity.