Supreme Court: Showing concern over the possible misuse of Cryptocurrencies (Digital Currency) including BitCoin, the Court asked the Central government and the Reserve Bank of India for information on steps taken to ensure digital currencies are not used for terror financing or money laundering. 4 weeks time has been given to the Central Government to examine all the matters relating to Digital Currency.
At present there is not law on the legality of digital currency in India.
Source: News18