Bitcoin or any other Alt coins are decentralized, best way to keep an eye is regulation not ban.
1. KYC must for all exchanges, deposit to buy and withdraw to sell only through exchanges and obviously leaving a digital print.daily limit of investment that can be done. RBI should observe the exchanges . Bitcoin can be anonymous, but the transaction from bank to exchange is not , so it will not help blackmoney or evaders. as long as there is digital print to follow they should b allowed.

If India supports Digital then it's must to legalize VCs. You can make strict rules to buy or sell btc in Indian exchanges but it should be legalized then only we can grow. If you want a common people status go high then you should legalize VCs. If a poor or middle class people's income hiking means then we're in the right way to make our country in developed status. VCs are quick for money transactions risk free considering FIAT. There are more points can be shared to make VCs legalize.

Hello, As someone who has some experience with the blockchain technology and the working of virtual currencies, I would like to share my insight and various pros and cons of the possible solutions with regards to the question presented:

#MoF #MyGov

Banning virtual currency will be like taking a million steps BACKWARDS in the field of economics. The decentralized nature ,peer to peer exchange and intrinsic value make virtual currency the currency of future. More over it is free from inflation

Bitcoin should be regulated in India. With proper regulation which will benefit the Indian Economy & Citizens with growing technology. When other countries are legalizing n accepting it we should be steping forward for the digital future of our country. We already witnessed successful digital payment systems in india after demonatization. We shpuld accept the change positively and support Crypto currencies as they are more transparent and free from corruption.

a) India is growing Digitally so VCs should not be banned but regulated.
1)People should be given knowledge about safety and security related to VCs. They should know the dos and the don'ts about the security. Internet will help to educate them.
2) KYC should be compulsory for Bitcoin exchanges. The transaction history is open to check on Blockchain. Which is the most powerful thing about cryptocurrencies.
3) There should be separate department to update rules.
Go Digital India!

I am very happy and proud to be an Indian.
I am very thankful that our PM gives us chance to speak and share our views directly with PM.
I just want to give suggestion to promote cashless economy please reduce or cancel swiping charges so that like customers , owner will also easily accept his money at low cost. Due to swiping charges many small trader not to wish to accept encash, they suggest to give cash.
-Mahavir Muthiyan, Indian.

Virtual coins are a way of cheating(worser form of multilevel marketing). However banning them will make people ignorant of such schemes being created in europe and america.

So have a mechanism where people can try it, use it, understand it.

Some of the limitations of virtual coin is mentioned in the link https://www.linkedin.com/pulse/what-future-bitcoin-whats-holding-back-prahalad-belavadi

Yes...Regulation of Cryptocurrency in India will be the one more positive step towards the economic empowerment.. Blockchain Technology will be prove as the future of the world...

CryptoCurrencies are backed by Powerful technologies and the technology is being used in many countries, Companies, Banks etc. It's a Great opportunity for us/INDIA to be onboard for a New chapter of innovation which is revolutionizing the tech industry.

VC's should be regulated,
CryptoCurrencies are very volatile, Need for KYC of each person investing in it.
Asset Declaration mandate.
Regulations can be similar to that of any Stock Trading, where the profits are Taxed.