SEBI opposes the central banks proposal, the publication noted, and then quoted a regulatory official saying:
""It (bitcoin) cannot be classified as commodity derivatives as per extant legal provisions.
Does that mean bitcoin would be banned in India? I don't think so.If they don't classify as a commodity or any kind of digital money how would be they sure to tax it and under what criteria would it be taxed? I think still govt has not come to a conclusion for this.