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?
I think that in India in the near future things will change for the better. Recently, a special commission set up by the Government of India concluded that bitcoin could be considered a means of payment, that is, act as money. This dramatically changes the situation in favor of the crypto currency. It remains to wait until the government draws up such a decision with its normative act.