The government on Tuesday 21st February 2018 announced that they are soon going to introduce a new bill in the parliament to ban unregulated deposit schemes, Cryptocurrency trading in India,with a view to curb illegal practices and duping of innocent investors.
As of now cryptocurrency trading in India is also unregulated and going by the introduced bill cryptocurrency trading is also going to be banned in India but according to some sources government of India is looking to bring some regulations on cryptocurrency trading in India and will not ban it. The center would have banned cryptocurrencies by now if that was its aim and industry players feel that government is taking its time to bring proper regulations to the cryptocurrency trading and making it a legal tender.
Cointogeek also believes that if the Indian government would have been really against the whole practice of cryptocurrency trading then it would have already taken strong measures to stop such practice. There is nothing to worry as of now and it is highly possible that Indian government is soon going to bring in regulations for crypto trading.