Crypto Currencies is facing local law policies many where: Local law can be a barrier for many countries to accelerate the blockchain industry. I read the sentiment of many people where the bitcoin or concurrency is not legally authorized but they are very much excited to use this technology. I think, a global revelation only can bring those countries to be inspired.
They think cryptocurrency is a big threat to banks and other financial sector and that's why some government are still not making any regulation about this one aside from banning it. You are lucky if you are in a place where crypto is legal, and in my place you can use it with a regulation especially if you are going to do a legal business but ordinary people can own bitcoin or any other cryptos legally which is more good for all of us. They have to understand this technology, we still need the support of many countries.
Now leading world states do not see a decentralized cryptocurrency as a threat to the existence and stability of the global financial system. This has been noted by them more than once. Therefore, they take virtually no measures to limit or ban it. For the time being, China is doing this for reasons of developing its own economy and up to a dozen third world states, where the authoritarian form of government prevails and where the rights of citizens are not respected.
Of course, states and their governments are not enthusiastic about cryptocurrencies, this is an extra problem for them, however I hope that cryptocurrency will continue to coexist peacefully with national currencies.