Countries can target several aspects of Crypto currencies with strict regulations. <AML/KYC> We see some countries accepting Bitcoin, but they are apposed to ICOs, so they will not ban all Crypto currencies, but rather concentrate on regulating these ICOs. The Chinese government is cool with Bitcoin mining, but they concentrate on regulating the exchanges where currency are converted to their reserve currency.
It is all about money and control, so if you play by their rules, then everything will work out for you.
