This to me signals Banks are scared, and if anything its a bullish case for crypto.
I feel bad people from india will have to jump through hurdles to participate of the ecosystem, but I sincerely hope they do the complete opposite of what the government wants them to do.
If they are able to embrace a Peer to Peer system they can effectively tell regulations to take a hike.
you can't kill a good idea, you can just delay it, and mind you not by much either...
Yeah, this will take sometime but quite possible this P2P market will grow in the next year if current activities are halted.