@firepower - the Indian Government reeks of hypocricy and a lack of fairness in that they want to ensure they get a big slice of the profit pie
gained by investors and commoners after taking considerable risk in crypto while not providing them with any regulation or framework or providing any kind of protection.
In this case the goverment is having its cake and eating it too..
Unfortunately, as a citizen you simply can't do much about laws. To be honest, while I too want a regulation framework in place, my gut instinct is that the government is unlikely to create anything that is even remotely fair to an average man. Banks obviously will be hand in glove with the government because they would get to lose if individuals moved money from their system to a parallel ungoverned peer-to-peer system.
Thanks for your insights and will be following to hear more of your insights on this rather dicey topic.