The regulation in India seems not clear at the moment, altough anything can happen. Although the decline in price probably related to the distribution of tokens, when all tokens not sold distributed in June, probably many will sell them and is expected the price will go down.

But for me the real problem is that Cashaa had a working product but they stop it, why ? the cost of remittances seems higher than expected because the system is based in involvement of traders that wanted benefits ( they added about 5 % cost so you can sent fiat from one country to other, but this involved you buy crypto in one country to a trader and other trader sell crypto for fiat in other country ) . The platform was working in London but suddenly is not in the webpage anymore, this means the growth of platform stop, why ?

The problem with Cashaa for me is all this hype about the future but not having a product doing a good performance at the present when they had it in 2017... other solutions are having great track record  while Cashaa dont show any tangible results...yes, you can be patient, you can wait sometime something will happen, but in my opinion most of the people in the company are qualified marketers instead of developers...marketing is important but in this case I see too much marketing without a fundamental progress. ( and I dont like when all matketing is just for investors, not for the users of the platform )

IMO The letter of Kumar didnt say much relevant.

For the moment it seems a specially risky investment... will follow the company to see if they produce something of value ... we will see.