Is MIM Recognised in India?

Excuse me, could you please clarify whether MIM, the cryptocurrency, is officially recognized and regulated in India? With the recent surge in digital asset popularity, I'm keen to understand the legal status of MIM and its potential implications for investors in the country. Is there any legislation in place or pending proposals that specifically address MIM or cryptocurrencies as a whole? Additionally, how does the Indian government view the adoption and use of MIM by its citizens? Any insights would be greatly appreciated.