The FUD continues.
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.
Source:
https://blockworks.co/india-crypto-ban-about-payments-not-the-asset-class/
yes it is true india does not ban cryptocurrencies completely. only certain cryptocurrencies promote their underlying technology. At the same time India also allows digital money authorized by the central bank, the Reserve Bank of India.
in the last few years for example in 2018 it was true that India tried to fight crypto money, but in 2020 this decision was overturned by the supreme court.