In India, crypto currencies are still not approved. However, this does not mean that you can not use it. You can always use crypto-currency for personal transactions like buying and selling, but not for commercial transactions. If you want to do any kind of crypto-currency transaction, you need to get a special licence. The Reserve Bank of India has not yet issued a licence to any entity. The only way to do this is to register with the RBI, but a PAN card will not be issued. A crypto currency is a digital asset designed to work as a medium of exchange. Cryptocurrencies use decentralised control as opposed to centralised electronic money and central banking systems.