The opinions of Indian regulators have been known from some time are should not be surprising. I would think that most of this FUD should be priced into the price similar to what happened in Chine last year. The adoption there was not as much as in China when the ban happened. However, I believe that the ban will actually increase interest of Cryptos in India as it will be seen as a way to get away from their centralized approach to their financial system. The announcement today just disables the connection between traditional institutions and cryptos but cryptos are decentralized so are still very much available. I am sure that technology will figures out a way for them to be traded for good as a barter while they continue to exist worldwide and on the networks of these cryptos.