according to the news I read that, India's Ministry of Finance said it did not regard the virtual currency as a legal transaction tool. The authorities also mentioned that they would restrict individuals or institutions that make payments using virtual currency.
The government will not yet impose penalties for users of virtual currency. We will only limit and disable access to the use of cryptocurrences as a means of payment. Nevertheless, Arun promised to adopt and develop the blockchain technology system used by the virtual currency, for use in the national financial system. The move is seen to strengthen India's ambition to become one of the main countries in the digital economy sector.