The Central Bank (RBI) issued its third warning, reminding the investors of its earlier concerns.  the RBI said that the creation, trading or usage of Virtual currencies or VCs as a medium for payment are not authorised by any central bank or monetary authority. "No regulatory approvals, registration or authorisation is stated to have been obtained by the entities concerned for carrying on such activities," it added.
 there are five points listed RBI those are:
1.The RBI says that virtual currency being in digital form are stored in digital-electronic media that are called electronic wallets. Therefore, they are prone to losses arising out of hacking, loss of password, compromise of access credentials, malware attack etc.
2.Payments by virtual currency take place on a peer-to-peer basis without an authorised central agency which regulates such payments.
3.There is no underlying or backing of any asset for virtual currency. As such, their value seems to be a matter of speculation.
4.Cryptocurrencies are being traded on exchange platforms set up in various jurisdictions whose legal status is also unclear.
5.It has been reported that usage of digital currencies are largely for illicit and illegal activities.

So these points show government and RBI are trying to make end of road for Cryptocurriencies.


 but some countries like Japan promotes cryptocurrencies.