Indian Finance Minister Arun Jitli said the government does not recognize Pitcowin as a legal currency. According to the "Economic Times", when asked about the government's plans to regulate the digital currency, "Jitli" said "these recommendations are being worked out"
The newspaper also reported that the minister had previously informed the Indian parliament that the Reserve Bank of India had not issued any licenses to work in digital currency in the country. He also told parliament that the country had no regulations to regulate digital currencies. However, in April, the Indian government was about to establish regulations to regulate the digital currency, establishing a multidisciplinary commission including the Reserve Bank, the Revenue Department, the Financial Services Department, and others. While the Indian Supreme Court paid the government last month to respond to claims for the Betquin organization. On the other hand, there were concerns about the nature of concealment in the use of betcoin and the possible methods of its illicit use. Where the judges issued a notice to the central bank and other agencies asking them to answer a petition on the matter