Cryptcurrency is not illegal in my country, and neither are exchanges. In my country, cryptocurrency enthusiasts are using Binance, Kucoin, Probit, Digifinex, Coinstore, Coinbase, MXC, and a lot of other exchanges that are freely used in my country. The government does not really give much of a fuck about cryptocurrency users, and everyone is at their own risk.
Bitcoin is not a bad investment; just those that actually do not have better knowledge would only lose their money in Bitcoin, which can happen only when they sell lower than the price they bought or if they release their private information to scammers. So, I don't see any reason for banning Bitcoin; instead, other shitcoins should be banned.