The Reserve Bank of India is denying any knowledge of a proposed ban on cryptocurrencies despite reports that a number of governmental agencies have backed the draft legislation according to a Right to Information request filed on June 4.
I am not sure whether it will make a huge difference, but what is evident here is that the bill is drafted without consulting the reserve bank of India and with the way the news are coming out, i am not even sure whether they consulted anyone who understands the bitcoin technology or the entire market before coming up with the draft, only time will tell what they are planning to implement, people who invested in bitcoin will not run away with those scare tactics and they will drive the market underground with these kind of stupidity.