Hi there wellsontheja! Based on my reading from different sources there are actually a handful of country that tell bitcoin is legal. What mostly government and banks announce is that bitcoin or cryptocurrencies could be a potential financial risk. Many company took advantage to ask investor to funding in their new more advantageous coin in the market. Whoever, not all altcoins are considered successful enough to generate revenue which ended up to discontinue. Another reason is that the government could not endorse something to the community which they alone cannot regulate or control.