Bitcoin in India: Drivers and Barriers to Adoption

I don't think the gov of India will ever understand the fundamental idea or the potential of Bitcoin. PayPal had issues with the regulatory bodies until very recently. Considering the red tape an average Indian has to face to open a bank account and the sheer number of ID cards issues by the gov (PAN, Aadhaar, UID etc), the financial regulatory system is a huge cluster#$@*, which I don't see changing anytime soon. Bottom line, I will be very surprised if some high court in India or the Financial ministry doesn't make it illegal in the next few years.

To transfer money out of India through a bank you need an invoice, proof of income and basically gov permission.

As an Indian, I feel offended by the first illustration. Taj Mahal is our national pride and photoshopping a bitcoin on top of Taj Mahal is the most insensitive thing the author could have done.