Why are the governments of most countries scared of Cryptocurrencies? It is convenient to claim that it is your duty as a government to protect your citizens from the "risks" associated with losing all their funs if the bubble bursts, but the fundamental question is, "what have you or are you as a government doing to give your citizen a better standard of livin?"
If not for the centralization of wealth which has never benefitted the common man but the government and mighty few, clamor for decentralization which led to Blockchain technology may never arose.
Now talking about the word Blockchain, let us think about it for a minute. Crytocurrenies especially their leader - Bitcoin might seem like a bubble to the opponents, but Blockchain has never been. Blockchain gave rise to cryptos, so even if they kill the cryptos, Blockchain has come to stay. They have to deal with it and face the fundamental facts.
Blockchain is the next level, and people who do not adopt it early will share the fate of those who laughed off the WWW revolution of early 90s. Look at the Yahoo, Microsoft, Google et al of today who adopted it pioneered it.
They can create all the FUD they can through media, but they fail to understand that the FOMO that follows the aftermath of most FUDs are resultant of the FUD they create. People who buy on FOMO mostly buy on high and they are the most vulnerable.
Governments can create good policies that can regulate the market and make it less volatile if they really care about their people. They can also look into creating proper frame works for ICOs and accountability.
As for clamping down on Blockchain products, they have seen that they may not win that war. The more China and Korea come up with stringent rules, the more people devise counter rules to buy cryptos and that drives the prices further up. It is a very volatile market right now, but maturity will come into it with time.
