Government usually go for vague ruling regarding cryptocurrency.
The usual "I do not allow nor disallow" action....
Like what Jihan Wu said, such action is to prevent any clueless people to invest in cryptocurrency.
After all, nobody want those losing investors to come back at the government, screaming for help later on.
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It's a double edged sword, because at the same time, they don't want to stifle innovation in blockchain development.
I heard that Chinese government is planning to come up with its own regulated cryptocurrency, right?
Yes, it's suppose to be a crypto-currency. Part of it's war on cash.