A governmental committee in india has suggested that cryptocurrency should be legalized in india.

Crypto to get finally some legitimacy in India

* Cryptocurrrencies are neither legal or illegal
* The government and RBI has always expressed displeasure
* The committee set up to study cryptos favors regulation over banning.

In october 2018, the govt. said it was considering the ban of use of private cryptocurrencies in india but the hope in a ray was govt. official submitted affidavit in November in case filed by the Cryptocurrency exchanges. Due to this the authorities have to choose between a ban or regulation

This came soon in after G20 countries took major step of agreeing to regulate cryptocurrencies to counter financial terrorism and money laundering which is in the line with recommendations of Financial Action Task Force. Also other finance ministry officials to G20 and FATF recommendations are likely to add value in the committee final report.