Don't panic, you can still use your Steemit and continue enjoying every other crypto that you might have been involved with. The issue is that soon your banks will not be able to transact with crypto exchangers but that's not to worry. Like @surfyogi mentioned, it's your place to make small and medium businesses to accept direct payment with cryptocurrencies, in that way you can easily purchase or pay for a service direct from your Steemit wallet. To cash out, you can exchange your Steem to your PayPal account if you have one. This will convert your Steem to dollars which you can transfer to rupees from your domiciliary account.
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Wow man you a smart mofo!
Thank you for this info James.. I didnt know about PayPal before this. Im gonna create a paypal account rigt away!