It appears the Indian government is finally ready to make a decision about Bitcoin and other cryptocurrencies. For a nation with such a strong focus on financial innovation, its leadership remains rather indecisive when it comes to Bitcoin and cryptocurrency.
Indeed, there is no official regulation or legal recognition for such currencies in the country whatsoever. However, that situation may finally change in the weeks ahead.
Many governments are struggling to properly define Bitcoin and cryptocurrencies right now. This new form of money is so unlike any other form of currency we have seen to date, it makes little sense to introduce complicated regulation.
However, some governments are still taking a very cautious approach by imposing harsh regulations first and foremost. Other nations are seemingly not bothered with regulation at all, which understandably creates confusion for the everyday consumer.