While the regulating process is in work, the government has decided to crack down illegal exchanges and pyramid Ponzi schemes that are luring the investors. And if I am right gainbitcoin is a pyramid scheme which is being marketed as a cloud mining platform. Many scam accusations have popped up against it, but if they do have mining rigs and their operation is legit and transparent, I guess they will get through or it would be added to countless list of Ponzi cloud mining schemes.
https://news.bitcoin.com/indian-government-cracks-down-illegal-bitcoin-activities-regulations/
