Other regions in Asia cannot claim such progress and are looking at the emergence of crypto currency with fear. According to Nepal, Bangladesh and Kyrgyzstan, using or trading virtual currencies is highly illegal in Asian countries and there are strict penalties for it. If you search you will find that most people in all these countries are dreaming about crypto or Bitcoin.
So the governments of those countries are not thinking much about its legality but most of the people there have Bitcoin in their pockets. To me this is not the right decision of the government rather by declaring the use of crypto legal the government can continue to tax it if it wants. Again, it will create a good source of income for the people living there to make a living.
It is possible that the government has something in their mind. They do not prioritize crypto because many of them prioritize their pocket. These corrupt officials don't see the benefits of pushing crypto and see other sector give more benefits to them so they shift their priority to this sector.
Aside from that, I do not know where these governments got their idea of crypto stealing their money. They think cryptocurrency is a tool for money laundering, a competition to their corruption, so definitely they will ban it. Who likes competition?
