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.
This is an open access journal which means that all content is freely available without charge to the user or his/her institution. Users are allowed to read, download, copy, distribute, print, search, or link to the full texts of the articles in this journal without asking prior permission from the publisher or the author. This is in accordance with the Budapest Open Access Initiative (BOAI) definition of open access.
The articles in Journal of Critical Reviews are open access articles licensed under the terms of the Creative Commons Attribution Non-Commercial License (http://creativecommons.org/licenses/by-nc-sa/3.0/) which permits unrestricted, non-commercial use, distribution and reproduction in any medium, provided the work is properly cited.
Copyright � 2021 Journal of Critical Reviews All Rights Reserved. Subject to change without notice from or liability to Journal of Critical Reviews.
For best results, please use Internet Explorer or Google Chrome
Journal of Critical Review, Tower 23/4,
Kuala Lumpur, malaysia