Ministry of Finance has the final authority for money and financial matters. Have a look at USA China trade war where Donald Trump has put $150 billion tariffs on Chinese imports.
Looks like China is the next to ban Bitcoin
China has banned & unbanned bitcoin about 10 times
Lol... Yup very much so. I guess no he/she knows. But on the case of China it's just a clear manipulation of the crypto space so that they can boost their local economy. Unfortunately, this affects the crypto space in a large way because other Asian countries mostly follow suit, and there is a sizeable percentage of crypto holdings in Asia - at the beginning of this year, it was between 20-30% of the total global holdings.
Per the article and news form India, I think it is a good case study for other companies in other countries who face similar situations to see if they can take on these bans via the constitution of the country. truth be told, other countries are just banning it because the major countries in the world are doing so. They have not checked first if it can benefit them, or if their existing legislation prohibits a ban.