Why legitimize Bitcoin in a few countries, such as Japan，Why trade is prohibited in some countries？such as China
I think the banking system per country has a big say in the legalization. Probably in the countries where they don't want to legalize bitcoin, the banking are afraid with the concept of decentralization. I think legalization of bitcoin would be a far fetched idea since most countries are still against it. So the closest thing would be a regulation instead.