Over the weekend, an India-based crypto exchange shut down its services, suspended trades and cancelled all open orders on March 30. Coindelta alludes to its financial issues and the Reserve Bank of India’s (RBI) stringent cryptocurrency regulations as one of the main reasons forcing the exchange to lay down tools.
I wouldn't say that "stringent" is the best word to use in this instance, but rather, restrictive.
The RBI is really not trying to regulate bitcoin at all, or to ensure that the risks of dealing with bitcoin businesses is lowered from the consumer's standpoint. Rather, they are trying to devise something in which they can push out all the bitcoin businesses from India, with what seems to be regulations on the surface.
That doesn't make much sense to me in my opinion because if they actually decided to regulate things properly they could be looking at extra tax revenue right now. It could have something to with trying to protect their domestic banking industry, but apart from that, imo it was a rash decision.