Virtual currencies

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.