India’s central bank wants to ban cryptocurrencies, government says

Well the government didn't ban it yet. the Ministry is in consultation with the other governments to find a good way to regulate the sector.

I think every country wants to track the inflow and outflow of money.Once they have some mechanism either through CBDC or KYCed wallets I feel the sector will just boom like any other software company.

I think instead of banning cryptocurrencies, countries should regulate the tokens like a security. This way, entities that issue tokens will have to follow the same rules that stocks follow.