In this crypto era there are few countries left which are still far behind to accept cryptocurrencies because the governments of these countries think that cryptocurrencies are harmful for economy they are just trying to ban cryptocurrencies in any way instead of making regulations which are must important.
So they can allow to invest and trade in stocks markets but not in cryptocurrencies that is not fair and unacceptable.
Cryptocurrencies perse are not harmful to the economy, as in fact, it is beneficial since it creates a system where there is an inflow and outflow of cash through its transactions.
What makes cryptocurrency repugnant to the government is its inherent nature and effect providing anonymity to its transactions without any trace left. Back in the days, people used cryptocurrencies as the main medium in online black markets (Silk Road) where they usually transact illegal drugs or services available.
Unfortunately, it created an ongoing stigma against cryptocurrencies and has been branded as something that is harmful, without even knowing its full potential to the consumers and businesses.