At a time when democracy itself is under severe threat in India, media outlets are being prevented from writing anything negative about the govt, and decision making is severely autocratic, this decision by supreme court comes as no surprise. A technology that is decentralized will always be out of flavour in a govt that is becoming more centralized day by day.
If the judges of Supreme Court feel and say that the court is not being run in a democratic and honest way, then clearly, court will side with the decisions of govt or a govt body on most matters.
The court, rbi, govt and anyone in a powerful and resposible position atm is against cryptocurrencies. There is no media coverage on this or any bitcoin event from around the globe on news channels. Bbc, cnn, bloomberg all cover bitcoin and such things are absent from ndtv, times now or any other proper media outlet.
Pressure is needed from all sides and more importantly awareness. If you look at what kind of YouTube content is out there on cryptos in India, you will be shocked. And if people are investing listening to that, then govt. will act against crypto.
This will be a long drawn case and most likely, india will wake up once adoption has increased manifold in at least g10 economies.