This statement could well be fake news.
The Indian FM has declared Crypto as 'illegal tender' in India at the annual budget programme and its illegitimate use.
Illegal Tender means you cannot use them as 'Rupee' to buy/sell goods. That's it.
Nothing on Trading or Investment or ban he has mentioned.
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I hope so...
A few major banks have already seized the accounts of some major Indian exchanges. If the term ILLEGAL gets official then the exchanges will have to wrap up.
One thing I have noticed, is a tweet from an Indian exchange after the announcement where they said they will include some more cryptos in their exchange