In India, the government is yet to come up with a concrete policy on cryptocurrency. A few months ago, the government was about a draft bill in the parliament which included very harsh provisions, such as 10 year prison term for anyone who owns cryptocurrency. But there was a lot of outcry from the Indian cryptocurrency users and they were forced to shelve it. But as of now, no new bill has been tabled to replaced the earlier one, and therefore the legal status of cryptocurrency in India remains in limbo.