Mainstream got it wrong with South Korea but they also got it wrong with India. It started with India's Finance Minister Arun Jaitley statement about cryptocurrencies. His remark was misinterpreted, however. We all know how news, true or not, can snowball. In essence, India like South Korea would like to come up regulations to cover cryptos. They want to take action against illegal use cryptocurrencies...
-Taken from Reddit -
Of course not, India is just spreading FUD as always.