One might as well argue that drug trafficking is a rampant phenomenon despite a ban, and therefore drug trafficking should be legalised and regulated. If cryptocurrencies are banned, the vast majority of investors who are law abiding would desist from investing. Those few elements who would continue to invest will essentially be carrying out an illegal activity.
Such exceptions should reinforce the need for a ban, rather than invalidate it. 34. It has also been argued by some that the concerns raised in allowing private currencies as a ‘medium exchange’ are valid. Therefore, they may not be allowed as legal tender but should be allowed as an investment asset.