On account of the decentralised nature of cryptos, bans are largely ineffective. China banned cryptos in 2017, and the transactions moved to exchanges elsewhere, especially Hong Kong and Japan. China imposed a ban on cryptos mining. Mining too moved elsewhere along with associated tax revenue.

The hashrates are measures of the computational power required per second while mining cryptos. The current hashrates are higher than those that prevailed before China ban.

There are no reasons to believe that an outright ban will be more effective in India. Participants in crypto eco-system will simply migrate elsewhere.