On April 20, a government panel is meeting to decide whether BitCoins are illegal.
www.moneycontrol.com/news/business/markets-business/exclusive-should-bitcoin-be-allowed-in-india-govt-panel-to-meet-apr-20-to-discuss-2249407.htmlIf they decide that BitCoins are illegal then centralized BitCoin exchanges will have to shut shop.
There are the few ideas how can these exchanges re-emerge:
1 . Convert from centralized exchange to a decentralized platform like Localbitcoin and Paxful.
2. Opening a page in dark web and offering the same service. Users can access it using Tor browser.
3. Collaborating to create a torrent like technology as a response to Napster closing down. We can use BitCointalk to design and collaborate to create a platform to achieve the same.
Remember, governments can only attack centralized systems. BitCoins are a transformative tool that can potentially eliminate poverty. We have to protect it from temporary ignorance of few regulators and politicians.
Good question and I would like to hear these exchanges official stand on this.
Although I am hoping nothing such thing happen but we can not completely rule out the possibility.
We can move our coins to cold wallet or some offshore online wallet as a last resort.