There is currently no law to deal with issues related to cryptoconcular.  Thus, agencies that comply with all concerned departments such as RBI, Enforcement Directorate and Income Tax Authority, take action according to the existing law.

No government ban on cryptocurrency, but RBI has imposed restrictions.

In relation to the ban on the business of cryptology, the government has disclosed that there is no restriction on this in the country.  Although the banking restrictions have been imposed by the Reserve Bank of India (RBI).  Replying to a question asked in this regard in the Rajya Sabha, Minister of State for Finance and Corporate Affairs Anurag Thakur gave a clarification this week.  In the Upper House, the question was asked whether the government has banned the cryptology in the country, on which Thakur did not say.
The Minister of State for Finance said, "There is currently no law to deal with issues related to cryptology. Thus, all the affiliated departments like RBI, Enforcement Directorate, Income Tax Authority and the compliance agencies are acting according to the existing law.  . "
The RBI, in the past, issued a circular and banned regulating companies to provide services to the cryptoconference business.  Bitwin.com reported on Friday that the ban was effective from July 6 last year.  However, there is a work on the draft bill to ban cryptology, which is headed by Economic Affairs Secretary Subhash Chandra Garg.  According to the draft of the Cryptocarrency Act and the Official Digital Currency Regulation Bill 2019, you will have to face a jail term of up to 10 years for keeping bitcoin-like cryptosystems, selling and trading in it.