Such news will give happiness to the bitcoin users in India. Most of the people are worried about the banning but now they will be relieved as tax on bitcoin will make the bitcoin legal.
Unfortunately, the Reserve Bank of India imposed a ban on the cryptocurrency transactions in all formats. But, the government is still planning to impose the tax on the profits earned.
It looks like you didn't read the full story. Reserve bank banned all kinds for crypto transactions with banks means you can't use your bank account buy or sell any crypto coins from exchanges. This is nothing but they have banned cryptos for time being and they are asking to pay taxes for the gains people made from last year trades.
the key point here which is sometimes making confusion is that that it is a "bank" not the "government". i think we shouldn't use the word "ban" in this case since the bank just stopped offering a certain service. it is like saying the bank banned giving loans, or opening savings accounts!
in other words bitcoin has always been legal in India, since a bank can not make anything illegal!
It looks like you misunderstood the Indian story. It is reserve bank of India has issued notices to all banks to cut the business with crypto exchanges, not banks stopped doing business with these exchanges. In this case, the government has forced banks to stop doing business with exchanges. The Indian government didn't use word ban crypto but people have lost a more convenient way of trading through bank accounts and they left with only buying from people and which will surely reduce daily volume a lot.
