Whats been stated is possible, but for some reason if the exchanges were not providing with the required information to the government. The exchanges weren't decentralized, but government can't get precise data. The market control is not in anyone's hands. It is not the government, not the exchanges. Based on this I state Indian government will make attractive statements keeping in mind the upcoming elections on different states of India.

It's good that the position is not to fully ban cryptos. They want to regulate them somehow, but I think they intend to make tough regulations (a very 'calibrated' approach, according to the Minister). India has been very unstable when it comes to cryptos, introducing and lifting bans multiple times if I remember correctly. But at least the Minister didn't say that cryptos are used for illegal stuff and should thus be banned or something. They have to come to some sort of agreement which would be okay to various interested parties, so I guess we just have to wait to see how this actually goes.

The Indian government is in final stages to submit the bill in the parliament and they are experimenting the usage of Cryptocurrencies in different ways.They have already praised the blockchain technology and are in favour of using it to develop its own digital coin by the RBI.The crypto enthusiast and Exchanges have United to start a initiative to regulate cryptocurrencies in India as mentioned by Nischal Shetty CEO of wazirX leading crypto exchange of India.The bill is yet to be submitted in the current session but the hints have been given by finance ministers Nirmala Sitaraman that most probably the government is trying to regulate the Bitcoin and other cryptocurrencies instead for going on complete ban on their usage. Actually the government has not still not able to understood how they could regulate or use Bitcoin and other alts in efficient manner and they are in experimental talks with RBI to try to figure it out by making a committee for such decisions.But hope for the best because India is one of the leading market of crypto users.

Just like other countries planning to implement their centralized digital currency on top of blockchain, i hope it wont be successful and will die off eventually just like petro issued by the Venezuela government.

This is a confusion every country has on how to regulate a decentralized currency and so is the reason it is taking this time time to come up with a regulation.

It is unfortunate that it has to happen like this, but we don't know what will happen in the future because we have to admit that India is a country that is fairly advanced technology, and has been recognized by the crypto world. they have known crypto for a long time and cannot be separated from this.

We have to keep thinking positively that the Indian government is doing this already carefully thought out, whether the impact is beneficial or even detrimental.
you can be sure that the crypto community there will not be lulled by silence for long and they will definitely get freedom again. because the impact will be clearly seen in the future after this runs.

She's diplomatic, because state elections are near and she don't want to antagonize any of the demographic groups. There are 10-20 million cryptocurrency users in India, and cryptocurrency has become very popular even in the rural areas. But then there is always a possibility of these people going back to their hostile stance once the elections are over. Even now, they are not giving a clear answer, and this makes me suspicious. I believe that they are being diplomatic only because of the elections.

An anonymous source, who is believed to be a senior official in the Indian Ministry of Finance, claims that the use of cryptocurrencies will soon be completely banned in India.

The source claims that the use of cryptocurrency in all its forms will be banned under a new law that is expected to be introduced in parliament soon.
Crypto investors are expected to receive a three- to six-month transition period to liquidate their holdings after the new law goes into effect, the source said.
The official stressed that the crypto assets had been targeted by Indian lawmakers due to a lack of support from the Reserve Bank of India (RBI).

https://www.bloombergquint.com/economy-finance/new-bill-to-ban-all-cryptocurrencies-except-official-digital-currency-by-rbi

Dude, this article is two months old and a lot of new developments have taken place after that. The news about a blanket ban on cryptocurrency broke in January this year, when the proposed bill was listed in the parliament website. But the cryptocurrency exchanges and user groups in India waged a social media campaign, and as a result of this, the government is rethinking on their strategy against cryptocurrency. We still don't know whether they have decided to legalize cryptocurrency or not. Regional elections are scheduled for next month, and until they are over the government may not take any drastic step on this regard.