Hello friends this is my own opinion and research. I am not a financial advisor.
Most of the big countries like China, South Korea , Japan and India think that crypto is "Threat" to their central banks. If people will start working in cryto currencies this will reduce the amount of tax revenue.
If we take the example of South- korea , China or India people here are investing because they want to earn quickly no one care about the technology behind it. That is why govt want to ban this totally despite of that they are aware blockchain technology can make revolution in World.
Now when we talk about technology China and Japan rules the market. However both have different views on Bitcoin, in Japan it is totally leagal to work in cryto currencies on other hand its totally ban in china to work in cryto currencies. China is very strict for their rules still some Chinese people are working in cryto currencies trading. Soon or later Chinese govt will start arresting thoes who work in bitcoin. Once this will happen Bitcoin price will fall like anything. I have read somewhere that china will be launching their own Digital currency by name of Yuan. If this is happenings then other government will follow up same and impact of this will make other Private digital currencies to shut down their business.
In china Wechat wallet and Alipay option is available in India we have paytm wallet and many more digital wallets available but they charge huge amount and we can not transfer money out of countries with that. But as I mentioned above some countries are planning to launch their own Digital currency.
No one can win from govt.
Please let me know if I am thinking wrog in comment section. If liked the post give upvote and resteem it. Thank you