The ban on cryptocurrencies must be correct. The government is not afraid of cryptocurrencies, but is worried that many people will go bankrupt during the growth period. Only when the cryptocurrency market is re-accepted by the government will they be open. This is to protect the people, knowing that countless scammers want to rely on fraud to get rich overnight, which is much faster than any investor making money.
The government in principle accepts all new technologies with consideration of the added value that exists in these technologies. Why do many countries ban bitcoin, because of anonymous factors and high price fluctuations. The consideration is to protect citizens from losses that might occur if bitcoin is legalized in the country.
There are many reservations for the governments when it comes to crypto currencies. Governments consider crypto currencies as a treat to them and they by all means try to avoid and discourage people from using it. I think they should realize that no one can stop people from adopting new technology.