We could see that mostly countries having small economies have banned bitcoin.Either they might have thought that they lack infra structure to trace and regulate bitcoin transactions.Also,they would fear that they would not be able to stop illegal activities in the country.

Surprisingly,even some bigger economic powers too have started to take strict actions against bitcoin.Recent examples are China and Russia.They fear that they might loose their control over citizens if they allow bitcoin.They fear that bitcoin would make their currencies lose its value and also tat it would be used for money laundering.

But its sad to see that some countries like south korea too follow their path.