Still, the Indian crypto related case is in the hanging position after the issue raised since last year. The final hearing was set to declared on the March, 31 2019 but it is now the April, 08. May be the even the SC can't finalize any decision.
What i have heard from reports online is that the case is extended once again by the request of the Indian government, i am not sure whether they are planning to come up with a verdict before the general elections which is coming up, as i mentioned earlier this is the biggest hurdle for any business in India, there will not be any clear direction and the starts ups will look else rather than running a company in India.
India is facing this issue since independence! No political party actually wants to solve this issues because it will affect their cash flow. The more delay it will have within the system the probability of bribing is more to solve the delay. This is how it works!
And yes, the case has been delayed until July this year. Read on,
https://www.ccn.com/indias-supreme-court-delays-crypto-vs-central-bank-fight-to-july/Till the time we are being governed by the bureaucrats who just clears an exam and sit on the top posts of the government, nothing good is expected!
Fully agree with your viewpoint. No government will be willing to take a stand on this sensitive matter. And even when they take a stand, the government will most probably follow Guidelines/Regulations in place in other developing countries.
Even if the government comes out with guidelines, it is difficult for them to perceive how would the things get impacted in future for this mostly unexplored area. There are still so many unanswered questions related to banking, security, impact on financial institutions that no Government is expected to take any decision on this in near future.