Actually, last year around this time, we had seen we weren't supposed to see - the unimaginable rise in almost all cryptos and that abrupt price rise is the root cause of our current headache and that's what I believe.
Our government is an old school. Their policy is to make other countries try first and use later in case it's proven. They are always trying to play a safe game. They only want to remain followers of the western world nor, do they want to lead the world. If that was the case, India would have been considered to be the Pioneer in any field.