It is because the cryptocurrencies are decentralized and no central organization that is aware of all the transaction that is happening and the transactions are anonymous then some criminals used it to do their illegal activities. That is why here in our country, our government wants to regulate the cryptos for the protection of the people and the financial system.
Yeah anonymous bitcoin facilities are right to use as money laundering because they very easily remove traces of their wealth in bitcoin, thats why the government is very afraid of these possibilities and threats. you know the continuation, they definitely forbid bitcoin.