I think the reason why other ban crypto because crypto is a new currency, unstable, highly fraudulent and has not reached a certain balance like some other markets such as stock, gold .... Governments have not recognized crypto to protect people against scam risks. Once crypto is more transparent and stable, I think it will be recognized and become more popular.
I agree. I think many governments want to save themselves, especially the businesses, and most especially, the people under their jurisdiction. Bitcoin and the cryptocurrency market, in all its glory, is still a market filled with volatility and instability that can certainly affect how many investments will go. With that said, by screening and deeming Bitcoin illegal, a country may save their people from such high risk.