The government is not ready to take responsibility for what happens to the cryptocurrency market. they are less aware of the potential of bitcoin that can be given to the world. The government is also afraid of being threatened by things that can be done by bitcoin.
Exactly. There could be a rise in illegal activities, Rise in criminal organizations, Rise in money laundering. Think about it. There are multiple ways in which bitcoin can be used. But the negative effects can overshadow the positive effects. In order to avoid that we need to make sure that it can be regulated not completely. But at least place a few regulations that everyone can agree on.