Recently Cabinet has passed a bill and in the bill there is no mention of crypto currencies but lot of people are panicking as according to the bill government will be banning all unregulated deposit and exchange in India aren't regulated.



On one hand The Prime Minister of India, Narendra Modi is tweeting about how important Blockcain technology is while on other hand Indian Government is still unclear on its stand for crypto currencies.



During his 2018 budget speech the Finance Minister of India addressed the issue and according to him Bitcoin is not identified as a legal tender in India. Bitcoin has always been classified as an asset class entity.



Income tax department has issued notices to over 100K HNIs and many will pay taxes on their profits.



RBI is panicking and has been issuing notices against use of Crypto but thats obvious as RBI can't control Bitcoin or any other crypto currency.



Media outlets are milking the situation and are spreading lot of FUD.



No citizen will support tax evasion and money laundering but not all cryto currency hodlers/holders/traders are involved in anti-government activities.

People even money launder or do tax evasion via cash or by some other mean.



Please Indian Goverment clear your stand on Bitcoin and if possible regulate it as its necessary.