The Indian government is currently deciding whether to regulate Bitcoin. Meanwhile, some Parliament members are working towards cracking down on illegal activities involving the digital currency.
Legitimate Bitcoin Businesses vs Pyramid Schemes
The governments efforts could be primarily aimed at pyramid schemes, rather than legitimate bitcoin exchanges and businesses.
There was only one member of ruling party who strongly oppose bitcoin by saying it as a ponzi scheme.Pity on him.He don't have enough knowledge about bitcoin.But good news is that india has shown green flag to bitcoin suddenly.Here is the link.
https://cointelegraph.com/news/suddenly-bitcoin-to-be-officially-legal-in-india