Bitcoin is not legalized in some countries for several reasons, mainly due to concern over financial stability, government control and regulatory issues.
What are the reasons why some government had banned or restricted Bitcoins??
the government in each country has their own currency in circulation.
cmiiw, if they legalize bitcoin, it is feared that their currency will be unbalanced in circulation, thus affecting the sovereignty of the country's currency.
but the issue is that several countries have begun to look at bitcoin not as a currency, but as a supporter of the value of the currency, the term as a substitute for gold.