Why is India clamping down on foreign crypto exchanges?

Why is India taking a strict stance against foreign crypto exchanges? The recent regulatory measures seem to indicate a growing concern over the potential risks associated with cryptocurrency trading. Are there specific concerns that the government is addressing, such as capital outflows, fraud, or market volatility? Is the government aiming to protect consumers from potential losses, or is there a broader strategic objective at play? How will these measures impact the domestic crypto market and the broader financial landscape in India? And what are the potential long-term implications for the industry and investors?