“We want to make sure there is a window available for all kinds of experiments which will have to take place in the crypto world. It is not as if we are going to look inwards and say we are not going to have any of this. There will be a very calibrated position,”
https://twitter.com/CNBCTV18News/status/1367810414679977987In January, the Indian Parliament presented the ‘Bill on Cryptocurrencies and the Regulation of Official Digital Currencies, 2021’ for discussion during the current parliamentary sessions on the country’s budget.
The purpose of the bill was described as creating a facilitating framework for the central bank's digital currency issued by the RBI and for "banning all private cryptocurrencies in India".
If this happens and the only coin allowed is the one supported by the government as a whole, I think it will make the whole crypto market in India meaningless.