My personal opinion is that Banning Crypto would be a totally counter-productive move by any Government.
I share the same opinion and I cant wait to see what the future will make of the decision countries like S.Korea and India are making to fight crypto. They are missing out and will most likely lose their positions as some of the most prominent economies in the world.
I think South Korea are clever. The people are onto this new technology and they're onto the Government too. Putting some basic taxes on exchanges is not a big deal, it's smart and if they can get fair regulations around Crypto up faster than others they could well come out on top.
India I am not so optimistic about - lots of corruption there IMHO and as we have seen from their crackdown on cash, they are going in the direction of oppression rather than liberation.
India and Korae are not trying to ban cryptos. That rogue minister who was against cryptos is an exception. I am sure he must have some "special reason" for that.
As for India, things are moving fast with PM Modi. India Stack, India's governance network will soon have its blockchain counterpart. Andhra Pradesh has started that with their Velugu Core.
So, crypto babies (and their technology) are much more valuable to throw out with the bathwater.