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/
news like this must be rectified immediately so that there is no prolonged turmoil on crypto movements and it is clear that the main thing is bitcoin. but it's only natural that this news reappears, because in 2018 India indeed banned crypto transactions, but a year later it was canceled by the Supreme Court there, resulting in the development of crypto in India increasing.
but indeed for a while, there is a ban plan for India, which will ban the use of cryptocurrencies as a means of payment. Even so the country is considering accepting crypto as an asset.
so that only restrictions as a recognized medium of exchange, but all transactions will still be able to run, and as far as I know many countries do things like this. and there will be no problems that are very worrying.