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?
Yes. Bitcoin is yet to be announced as legal currency in India. Reserve bank of India has said that its working on to create its own crypto currency called Lakshmi. An another business man has formed a team to under his son's responsiblitly to work on launching a new crypto currency called Jiocoin. Such moves indicate that Indian government is going to welcome crypto currencies.