Well, I'm not from India but this clearly sucks if true. When developed countries like US, Japan & Europe are positively adopting this new tech, India is joining the likes of third world countries.
India is a developing country or in other words it is a third world country trying to come up with a regulation for more than a year and yet did not finally decided what to do with the market even if they destroy all the companies that invested money, it is a really pathetic situation.
this is just a proposed draft, final bill comes to effect after passing from Houses of Parliament which is subject to several changes in the draft. So it is too early to fear anything.
It might be a draft but till now and there is no clarity on how the market will be and now another exchange koinex shut their doors because of the terms of jail sentence proposed in the draft bill and these stance by the government will drive the market outside of the country because of these hostile situation.