"Banks across India are cracking down on bitcoin trade, months after Finance Minster Arun Jaitley publicly denounced the digital currency.
Bitcoin opened on the markets at $12,899.20 (£9,307.16) before plunging by $1,000 (£721.53) just before 8am GMT.
The token bounced back somewhat at 2.05pm GMT, exchanging hands at $12,199.50 (£8,802.31) down 4.11 percent on the past 24 hours.
Bitcoin exchanges in India are now under fire, with the State Bank of India (SB), Axis Bank, HDFC Bank, ICICI Bank and Yes Bank reportedly closing or limiting activity on accounts tied to bitcoin trade."
https://www.express.co.uk/finance/city/907786/bitcoin-price-india-cryptocurrency-trading-btc-exchangeBanks are getting scared and I think people will always find a way if they want it.
India has been iffy on the situation I believe since the beginning of the huge burst. The issue as of now, however, is that the Indian government doesn't really have as much power as expected. I am of Indian descent, and I know first-handedly that the government in the past has been rough when it comes to following through with plans.
However, with the new PM, there has been progress made, especially financially. It seems like the government will be heading towards a path that allows for more taxes to flow into the govt for much needed country improvements.