India is unclear about fast-changing crypto market once other country govt form legal formalities India will rethink Even GST implementation also late in India
GST made to get more taxes from poor people, as for Bitcoin legality, still no one knows the founder of Bitcoin so who is the responsible for money?
I have seen 2 to 3 ICO's from India where they failed in Pre ICO to get funds. i think India wont allow this Crypto currencies in future because of srtict terms.
Also read this
https://inc42.com/buzz/cryptocurrency-bitcoin-india-cme-group/