At the early stages Russia ruled it as illegal, China outlawed all withdrawals and some other country also spoke against it. But now everything seems to be smoothing up at least on the government side. Surely Bitcoin must be seen as challenging their authority. Is there something I am failing to see? All it would take is a 51% attack or a new law.
The government actually knows that Bitcoin is very helpful and profitable for its users. Hence in many countries, the Government has not really dismissed Bitcoin because it still believes in Bitcoin. But now there are also some countries that dismiss Bitcoin in any case and if it violates it will be sanctioned. But I am sure in the future later Governments all over the country will really accept the sophistication of this blockchain technology. We just have to wait for the right time to see it all.