India is not banning bitcoin as an asset class as many have eluded to. Many news outlets find that this angle is far better for attracting clicks.
India is looking to ban bitcoin as a method of payment. Meaning they are just trying to protect the interests of their future CBDC. People in India will NOT be banned from buying or selling bitcoin. The government has NO interest in banning bitcoin as an asset.
Maybe a reliable source that talks about this would have helped a lot of people to believe what you have said. Anyways, if you are a citizen in that country, then you are right about it, because only a citizen living in that country would know the situation of things there. Seriously, I’ve already gotten tired of seeing news that kept repeating the same thing every day about the Government of India burning cryptocurrency.
As long as they would allow their citizens to continue making our only crypto currency as an asset, then it wouldn’t be bad at all. I have friends who live in their country, and so far they have been making use of crypto currency for transactions,: I do send money to them and they will also send money to me when there is a need for it. So that made me doubt what the news were saying on this why, because I never heard from all these friends that I have in this country saying that cryptocurrency has been banned.