Cryptocurrencies Archives

India’s Legal Approach to Blockchain and Cryptocurrency Technology

Blockchain, Cryptocurrency, Web 3.0, Decentralized Blockchain Law

In the intersecting realms of technology and finance, Blockchain and cryptocurrencies, although related, function as distinct entities with significant legal considerations in India. Blockchain, a decentralized ledger enhancing transparency across various sectors, lacks specific governance laws in India yet falls under general regulations. Cryptocurrencies like Bitcoin challenge traditional currency systems with their digital, decentralized nature, yet remain unrecognized as legal tender by the RBI, posing a dilemma regarding their legal status, securities classification, and taxation under Indian law. As this landscape evolves, specialized legal guidance becomes crucial.

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Transfer Of Cryptocurrency On Wallets Of Other Persons & The Trap Of Benami Law

Benami Property Prohibition Law, Blockchain, Cryptocurrency, Web 3.0, Decentralized Blockchain Law

Transfer Of Cryptocurrency On Wallets Of Other Persons & The Trap Of Benami Law- Pursuant to a Public Interest Litigation Vijay Pal Dalmia Vs. Union of India, Ministry of Home Affairs, Ministry of Finance & Reserve Bank of India being W.P.(C) No. 001071 / 2017 before the Supreme Court of India, the Government of India has

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NFTs and Indian Law: Understanding the Legal Landscape

Blockchain, Cryptocurrency, Web 3.0, Decentralized Blockchain Law

The acronym “NFT” stands for “non-fungible tokens” and these are basically asset backed tokens or digital assets with unique identification codes and metadata recorded in a blockchain ledger representing the ownership and authenticity of an associated unique tangible or intangible asset. As suggested by its name, NFTs are characterized by their non-fungible nature. In economic

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Cryptocurrency Exchange Law in India: Insights on Market Makers

Blockchain, Cryptocurrency, Web 3.0, Decentralized Blockchain Law

There are no specific laws relating to market makers in relation to cryptocurrency exchanges in India. There are certain guidelines that have been promulgated by SEBI (Securities and Exchange Board of India), however these are applicable only to Shares and inrelation to certain stock exchanges only. These regulations may be found here. These SEBI Guidelines

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CROSS BORDER TRANSACTIONS: CRYPTOCURRENCY AND FOREIGN EXCHANGE MANAGEMENT ACT (FEMA)

Cross Border Transactions: Cryptocurrency & Foreign Exchange Management Act (FEMA)

Blockchain, Cryptocurrency, Web 3.0, Decentralized Blockchain Law

Cross Border Transfer of cryptocurrency is a significant aspect of its being as cryptocurrencies are traded through online platforms and these platforms facilitate the exchange of cryptocurrency into another currency including a fiat currency. This raises questions under India’s foreign exchange control law, i.e., the Foreign Exchange Management Act (FEMA). This article intends to analyze

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Cryptocurrency Taxation in India : Navigating the Tax Landscape

Blockchain, Cryptocurrency, Web 3.0, Decentralized Blockchain Law

Cryptocurrencies have been subjected to the spotlight of the decade and have been grabbing the attention of the tax authorities essentially due to the high prices at which they were seen trading on exchanges in India and across the globe and the regulatory mechanism of taxation has to be determined looking at the current legal

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