This is exactly what the other countries should look at as an example. After all you have to actually make it legal and governmental to see how the tax works out and who buys and sells how much and when and see their profits and losses and how they should pay taxes on how much and so forth. If you do this like Belarus is planning (or currently doing) then you get yourself a crypto currency craze in a country that literally is watched over by the government and used for their advantage.

If a country just flat out bans crypto currency do you think it will stop all trades? No. It will just slow it down but people will find a way to get it anyway, so this way you are taking advantage of that popularity and you are using that to raise gains of the government via a new tax channel.