Indian Finance Minister Praises Blockchain, Still Considers Bitcoin Illegal

112.Distributed ledger system or the Blockchain technology allows organization of any chain of records or transactions without the need of intermediaries.

The government does not consider cryptocurrencies legal tender or coin and will take all measures to eliminate use of these crypto-assets in financing illegitimate activities or as part of the payment system. The Government will explore use of Blockchain technology proactively for ushering in digital economy. Source