Any foreign entity that enters into the market without any regulation are considered threats to the government. Despite bitcoin's positive impact into the environment and in to the society both financially and socially, the government still views it as a bane rather than a boon. The question whether they can regulate it or not is irrelevant as it is inevitable for cryptocurrencies to be regulated once all countries accept its status as a currency. But if some developed countries still view it as a threat then expect bitcoin to fall in the following years depending on the scale of damage caused.


I disagree so. The government has the power to regulate anything that enters into its country. The power of the legislature to impose tax can be considered but I think that they also are benefitting from the process of accepting its impact in the society.