This will surely be another blow to Cryptocurrency Users in India and knowing their love for Technology is really great, it will surely be a hindrance to people who uses Cryptocurrencies as a source of their income. India has a lot of developers that can create a great ideas which can evolve into great platforms but seeing the Indian Government trying to ban the creation of Digital Currencies, it would really be a hard decision for Indian users to further pursue their love of Cryptocurrencies.
It is a big irony that India, which has produced some of the big names in technology such as Satya Nadella, Sundar Pichai, Shantanu Narayen and Arvind Krishna killing technological innovation because the government feels that the national currency can't withstand competition from Bitcoin. No wonder that India is the country that is most affected by brain drain of educated individuals. When illiterate people run a government, what else can the skilled ones do apart from migrating to somewhere else where their skills are respected?