The Indian government is continuously examining the bitcoin ecosystem and now its on the conclusion stage. According to a news report, a Government panel has advised closing bitcoin and cryptocurrency exchange/dealers in India.
Again, the government of India is trying to prevent people from buying bitcoins. You can not just forbid a free crypto currency, it's unfair to the citizens of the country.
No, the Indian government is not closing bitcoin and cryptocurrency exchange/dealers in India. According to the Finance minister Arun Jaitley, bitcoin is not a legal tender but he didn't say that they are going to ban them in the country. It's true that some Indian banks have suspended the accounts of top bitcoin exchanges in India, however recently a news came where the SEBI chief declared that they are planning to regulate cryptocurrencies in India so I think that is a sigh of relief for all the traders in the country. You can read about it here- http://www.unkrypted.com/crypto-regulat ... ebi-chief/
Indian government has no banned the cryptocurrency indian finance minister Arun Jaitley has said , bitcoin is not a legal tender but he didn't say that they are going to ban them in the country.
Indian government is not showing good prospect towards the cryptocurrency and they have banned the trading of the Bitcoin as far as I know. But they need to realize the importance of the cryptos as soon as possible as they have the vision of leading IT in the whole world.
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