A STUDY ON CRYPTOCURRENCY IN INDIA

Abstract

“Due to the rapid development of information and communication technologies, many activities in our daily life have been merged online and they become more flexible and more effective. A huge growth in number of online users has activated virtual word concepts and created a new business phenomenon which is cryptocurrency to facilitate the financial activities such as buying, selling and trading. The use of virtual currency has become widespread in many different systems in recent years. Virtual money is not fully controlled and regulated hence most of the countries have not admitted this currency in their economic activities. This paper investigates about cryptocurrency present legality as well as future government moves impact on these currencies. The paper also analyses investment risks in both Bitcoin and Gold countries have responded in terms of regulations and legislations towards crypto currencies to develop a clear picture of its impact on various laws in India in order to regulate it”.