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2021, Vol: 8, Issue: 8
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    THE LEGAL IMPLICATIONS OF BLOCK CHAIN (2023)
    Akansha Singh Sengar , Devanshi Dwivedi
    JCR. 2023: 97-104

    Abstract

    Cryptocurrency, introduced by Satoshi Nakamoto in 2008, is a peer-to-peer digital currency system without a central authority. Since its inception, its demand has skyrocketed, with Bitcoin being the most popular form. The international position on Cryptocurrency is not homogeneous, and its legality remains a question. This paper examines the legal scenario of Cryptocurrency in India, aiming to understand its potential benefits or volatility. The Indian government has announced the "Cashless India" initiative to encourage digital payments and finance. The Supreme Court has directed the Indian government to regulate Bitcoins, but no legislation is in place yet. RBI has banned all entities from dealing with Cryptocurrency, making understanding the concept of Cryptocurrency essential for countries like India to recognize it.

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    Volume 10 Issue-5

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