Just for those who cannot read or do not bother.
"The usage of cryptocurrencies like bitcoin and ethereum is not banned or prohibited in the country. Only local banks working with the central bank, which essentially is the overwhelming majority of the banks in the country, are not permitted to work with cryptocurrency exchanges."
Crypto is not banned. Stop it now.
I think they should ban fiat. Crimes are committed over fiat. Even physical violence is used by some to get their hands on fiat. People use fiat to buy guns to kill other people too. Every drug dealer accepts fiat not crypto.
I really think we should ban fiat. Lets ban trading all together actually since there is a chance you can be defrauded trading.
Being a resident of India, all I have to say is that you won't be surprised if you know about the real situation. India is a country where most of the lawmakers get elected because he belongs to a particular caste or sect. That means that rather than competent people, Indians usually end up with illiterates and criminals for lawmakers.
I love how the so uptight about AML laws. Like we gonna pay tax to begin with. They piss the tax money away so screw them.