Agree with dabsV12 on this. The helplessness is palpable. Authorities here are intent on outlawing every other crypto other than the state backed one: https://qz.com/india/1418897/after-strangling-bitcoin-india-may-launch-its-own-cryptocurrency/

From the article: What’s worse is that the government may also kill or ban the existence of other digital currencies if a government-backed cryptocurrency is rolled out.

“The panel is also discussing amendment of the Currency Act to make possession of any cryptocurrency, not approved by the government, a punishable offence,” said the government official.

Funny thing is the authorities invited crypto exchange reps to learn about crypto and then stopped banking services to them. We are now in the august company of only two other countries that are planning to or have already implemented a state-backed crypto, Venezuela and Iran. And just like always we will look on while the rest of the world progresses.