In India, Reserve Bank of India has already issued notices to citizens telling them not to invest in cryptocurrencies (bitcoin in particular) and Income Tax department have raided many Indian Exchanges' Offices.

I think this is kind of a response given while being scared of the way cryptocurrencies are making people rich and people not giving enough respect to the fiat currencies.

This will change once the majority of people will turn towards cryptocurrencies like Steem, SBD, Bitcoin, IOTA, Ripple and other.