As crypto/Blockchain tech becomes more popular, mainstream banks and governments will be forced to take action against this emerging industry to stop its growth worldwide. They don't want to people to use crypto on top of Fiat, so we'll be seeing new tactics from said entities in order to destroy crypto for good. One of those tactics could be either banning people from trading crypto at a centralized exchange or simply prosecuting developers of a cryptocurrency project. I believe the latter option is much easier and effective for governments to put an end to crypto for good. Before devs will be able to launch a new cryptocurrency, they're going to need governments' approval. Otherwise, they could face serious consequences in the long run.
I can’t really say for sure, but I think that it is going to be more easy for them to ban exchanges than having to stop developers because there are lots of projects these days that their developers are not known, it can just be something that’s open and built on platforms like Github and things like that. And then I don’t think that the government is going to stop people from developing their own cryptocurrency in countries where the cryptocurrency market has already gone far.
There are big companies these days that now owns a cryptocurrency, and they wouldn’t like the government to ban it. Most of these companies works closely with the government, so it’s not likely to happen.