Indian Finance minister has presented the financial budget for the year 2018 and he said 'investors should keep in mind that government doesn't consider cryptocurrencies as legal tender" It means government did not recognized them but also did not banned them completely, hence people can still invest into the cryptocurrencies on their own risk. However, he also said that government will make sure to curb the illegal transactions funded by cryptocurrencies. In addition, he also mentioned that government will study the blockchain technology to make the payment faster.

There were lot of excitement about the government's stance on cryptos but its not a good news for the investors. I fear what if people start diverting their money from cryptos to stock market ?

Edit : http://www.financialexpress.com/budget/budget-2018-bitcoin-is-not-a-legal-tender-but-government-will-keep-exploring-blockchain-technology-says-arun-jaitley/1039815/