That's my country for you. This has been going on for several years mind you. The government can't make up its mind on whether crypto trading is allowed and keep flip-flopping. This lack of regulatory clarity is part of why this place is a 3rd world shithole where it's almost impossible to do business legally because of the bureaucracy.

I won't be surprised if the government is unable to ban P2P markets though. But a few years ago I wanted to buy some Bitcoin but by the time I had the money one of the only exchanges at the time (urdubit) had already seized operations because of the government. In those few years the rupee has lost around 60% of its value.