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/
Panic selling is the top priority of these news investors, but India is not saying that virtual currencies are completely banned, so the impact is not large, and there will not be too much negative impact. It just chooses to ban the use as a payment method, so that BTC can still be used. As our asset.