In India, Bitcoin is not a legal tender. But it is not explicitly termed as illegal. What is the reason for such a stand by Government? what are its implications?
Yeah bitcoin is not a legal tender in India but it is still not officially banned in India either. The reason why it could be at stand by could be that they want to warn people who are trying to do scams or are trying to do money laundering . I think they Would not ban bitcoin but they would imply some restrictions which could eliminate the chances of fraud and money laundering.
I think bitcoin is not legal tender for india but new tender for india, they are working on it and I hope they will come up with solution of legality of bitcoin.