This step will encourage traders as well as investors in a big way, because many countries officially has not recognized the use of cryptocurrency but if it is brought under tax net then it will encourage more investor to trade in cryptocurrency beccause people will feel that Govt one way or the other is keeping a watch over cryptocurrency and this will boost up the morale of the investor.
Indian being a very large market and the entire population is going digitized. People should be encouraged to download different apps for trading purpose. The volume will be huge over here