Yes, correctly said.

In India it is yet to be decided whether Bitcoin and other crypto currencies will be a legal tender or not. The Govt. has not said anything about that, still cryptocurrency trading is being done in our country.

The new govt. of BJP is focussing on IT sector and technological advancement. Govt. may do something about it in near future if other big countries allow bitcoins legally.

It is to be noted that Japan has already made Bitcoins legal in his country.

BTW great article Hive account@firepower
Didn't know you are an Indian. :p :D