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 to be frank, Indian Govt is in process of establishing its won crypto currency and if i am not wrong that would be called as "Laxmi"?. I have heard that the son of the top richest business man Mugesh Ambani has gone through Blockchain studies and he has already in progress to setting up his own coin on behalf of his own company. Lets see how that will come up in future.