The government of India is ready to legalize the use of bitcoin and other cryptocurrencies, but only under the strict restrictions of the industry. This is reported by the local New Indian Express.
Formed by the Ministry of Finance of India, the Commission for the study of cryptocurrency is of the opinion that Bitcoin cannot be outlawed. It is expected that the commission will prepare a new report on this issue by February 2019.
Note that in December, during the G20 summit, the heads of the participating countries signed a final declaration, in which they noted the need to regulate cryptocurrency. Since India is a member of the G-20, any measures regarding cryptoindustry will be coordinated with international practices.
In April, the Reserve Bank of India banned controlled entities from providing cryptocurrency-related services to individuals and companies.
In November, after numerous delays, the cryptocurrency commission promised to submit a bill on Bitcoin regulation by the end of the year.