I remember the last few years that India did not have a firm stand with its policies. What I'm thinking is that India didn't really like cryptocurrencies from the start, but due to some differences in the goals of politicians, freedom is sometimes given without careful consideration.
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Q6) Is it the time for people to switch to peer to peer
I don't know, maybe it's happening right now. Some time ago I saw a post that locals still accept bitcoins for their transportation service fees. It seems that legal sanctions have only been effective for companies, not individuals.