The war on cryptocurrencies in India started some many months ago so they've been psyching their minds for matters as such. Maybe the general market could take a hit after the permaban announcement.
So far, I do not see any war of the Indian government with cryptocurrency. Not so long ago, the Supreme Court of India canceled the restrictions of the central bank of this country in relation to cryptocurrency and everyone was happy with this decision. As far as I know, the government and legislators of India have not yet adopted specific laws to regulate cryptocurrencies. Against this background, cryptocurrency exchanges are developing their activities. Why is there such a concern about the cryptocurrency situation in this country?