I am expecting strong rules to regulate Bitcoin in India, like the US, companies operating in crypto in India need a license. Whether it will be only limited to Bitcoin. ??
Currently Bitcoin trading in India is daily 50 Crores. "Minuscule Amount " , as per Indian Media, and government could leave it Unregulated, and let the Technology develop a little more. On the other hand lot of companies scamming the Indian population as the sector remains Unregulated. and the Government to protect consumers from these Scammers
Then How it will be taxed ? and Who will regulate SEBI, RBI
Or The Rules could be like JAPAN, where Bitcoin Purchases are tax free , Australian Senators wants Bitcoin to be Legal Tender
India's decision on Bitcoin will have good reflections to BTC price for sure. As many investors are on the edge to Invest in Bitcoins, waiting eagerly to know , whats going to happen.
Last year RBI submitted a report on Blockchain
DOWNLOAD THE WHITE PAPER "APPLICATIONS OF BLOCKCHAIN TECHNOLOGY
https://idrbt.ac.in/assets/publications/Best%20Practices/BCT.pdf
Now its time for SEBI to research (y)
India’s SEBI Sets Up Committee to Explore the Blockchain
SOURCES
https://www.cryptocoinsnews.com/indias-sebi-sets-committee-explore-blockchain/
https://www.coindesk.com/india-close-finishing-work-cryptocurrency-rule-proposals/
https://www.coindesk.com/lawmakers-want-see-bitcoin-become-official-currency-australia/