Instead of banning cryptocurrencies, RBI should regulate this market and ban the fraudulent entities which are cheating people. Cryptos are product of new eras which cannot be stopped.
But it should not be forget that RBI has announced to issue government owned cryptocurrency in India. In my opinion government owned cryptocurrency will have devastating effect on citizens' freedom as then government will be able to track every person and if it finds someone as an adversary of it, it may blockr that persons every financial resources. Hence, a new form of dictatorship can begin with this step.