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/
Once this kind of prohibition problem occurs, it is because it affects their own interests. Just like China's severe crackdown on virtual currencies, the reason is because China has its own currency and does not want its own citizens to buy and sell virtual currencies.