There are some governments are catching up with Bitcoin and other cryptocurrencies. And they are crushing them. A couple of days after announcing that Initial Coin Offerings (ICOs) are “seriously disrupted the economic and financial order,” the Chinese government banned ICO funding. That was certainly bad news for cryptocurrencies, which crushed across the board, with Bitcoin losing close to 10 percent, Ethereum 21.74%, Litecoin 24.92% and BitConnect 32.10%. The Chinese government’s heavy-handed action against digital currencies comes two months after the SEC ruled that cryptocurrency “IPOs” or ICOs are investments, and therefore, should be subject to the same rules as regular stocks. The Chinese and American governments aren’t alone. Last week, the Russian government opened a criminal investigation involving Bitcoin, while the Venezuelan government has been jailing Bitcoin miners.