Earlier this month prices of cryptocurrencies on Indian crypto exchanges dropped amid news reports that the Indian government plans to clamp down on the fledgling industry. Indeed officials have made it clear that there will be "exceptions" and that they have nothing against the underlying technology and its applications. The new crypto bill is scheduled to be tabled in the winter session of the parliament that begins on November 29th. In this context, what is the future of this segment? How relevant is blockchain technology to India?