The point you have mentioned in your post is absolutely correct for developing nation. India have fear that crypto like Bitcoin whose transaction no body can detect can be used for Money laundering.. therefore in India Case is pend in apex court for regulation of crypto in India.
Blaming Crypto for money laundering is not a right judgment to stop crypto currency trading, because money laundering was exist in fiat currency as well.One thing developing countries can do is to regulate centralize crypto like Ripple XRP.