Well, this is really a shocking news to the Indians and i myself being a citizen of India thinking some ways to do trading by Bypassing this rule. I am planning to search any wallets which will hold my bitcoins and then will transfer it to my PayPal address from where i can easily get my PayPal amount transferred to my local bank's account. Let me know if there is any wallets which can get the bitcoins and transfer to my PayPal account. Indians please share if there is anything.