Anyway crypto currency will be going to regulate in India very soon because of already top list country are regulated the crypto like Japan and more, and coming days some big companies like Facebook and telegram launching their own crypto coin, so I hope that Indian government and RBI will getting the crypto regulations in India very soon.
This matter was discussed in the court as well. If you have seen the arguments, there were a mention about how Japan and other developed countries have regulated bitcoin and cryptocurrecnies by implementing KYC and AML law in it. However, every country has different socio-economic scenario and their needs are different. If bitcoin is regulated then it is definitely a great news because we need fresh stimulus to the economy that is slowing down continuously! Adopting cryptos into the mainstream economy will bring more opportunities and create jobs for the tech-savy youths. I hope the government understands the positive impact first before passing out any further arbitrary decisions like RBI.