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?
As of now, Bitcoin is not yet announced as legal or illegal. Its welcomed and used by many citizens of the same country. We have just heard, the government has started discussing with the Reserve bank of India to launch a new altcoin Lakshmi. Followed by it, a business man from India has formed a team under his son and working on launching a new crypto coin called Jiocoin and its services.