I have already explained about it here: https://bitcointalk.org/index.php?topic=5316416.msg56327803#msg56327803

What the Indian government is proposing is not just the prohibition of cryptocurrency, but also confiscation of wealth from the existing cryptocurrency users. As such, it is against the constitution. I hope the supreme court of India will nullify this measure, if it gets passed in the parliament.

And I don't think that other countries will follow such measure, because wealth confiscation is against democratic ideals. Forget democracies, even dictatorships such as those in Cuba and North Korea would think twice before ordering wealth confiscation.

The scenario in India is different, because there is a large group of largely illiterate and brainwashed followers of the ruling party who will stand by whatever policies they make. Most of these people live in slums and have a deep hatred towards successful people who have access to good quality living. Obviously they will support measures such as wealth confiscation. But I don't think that such measures can be introduced in any of the developed nations.