Thanks so much @kevinwong. Additional explanations from you can be my argument in the discussion later. I will mention the source from you if you allow.
You are right. Stability and protecting citizens' assets are often the reasons for the financial services authorities to make regulations that have the opposite effect. instead of protecting assets, it actually gives a disservice to the citizens. I think, in any country, the condition is almost the same in view of the existence of cryptocurrency.
The state seems to want to affirm its existence by making regulations, limiting and making restrictions. They don't see the problems from the aspect of the interests of the citizens.
The existence of Steem / it should be examined from various aspects, not just from the legal aspect only. The social aspect should also be studied, as many young people get jobs through Steem. Many young people can hone their skills through Steem. Steemit has helped a lot when the government (eg in Indonesia) cannot do much to reduce unemployment.
Thanks for the addition of your argument, @kevinwong!