The situation calls for concern, Kenya too did same by refusing it's citizen from dealing on crypto exchanges, they gave their reasons that it was fraud and questionable and just some weeks back, the ban was lifted and right now the government is even venturing into cryptocurrency. Sometimes I wonder why some countries would not want embrace modern innovation and move with it, India will definitely have a turn around and the end point is that cryto has come to stay and soonest it will replace paper money.