Cryptocurrency in India: Government’s Stand and Legal Status
DOI:
https://doi.org/10.33516/maj.v56i11.42-44pKeywords:
No Keywords.Abstract
Cryptocurrencies are gaining wider acceptance year after year all over the world as evident from the perennial increase in the volume of trade. But they are associated with high degree of risks including greater volatility in the prices besides the absence of government support. However, there is no comprehensive law in India to regulate the crypto-trading and to ensure that illegal activities are not funded with crypto-related activities. Therefore, it is necessary for the Government to enact a comprehensive law at the earliest.Downloads
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Published
2021-11-30
How to Cite
Gowda, I. P. M. (2021). Cryptocurrency in India: Government’s Stand and Legal Status. The Management Accountant Journal, 56(11), 42–44. https://doi.org/10.33516/maj.v56i11.42-44p
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References
Val Jiwa. ‘The scope of Bitcoin and cryptocurrencies’. Retrieved from, https://smei.org/blog/scope-bitcoin-cryptocurrencies.
India Today Web Desk. (24 September 2021). ‘China declares all cryptocurrency transactions illegal’. Retrieved from, https://www.businesstoday.in.
https://www.irs.gov/businesses/small-businesses-self-employed/ virtual-currencies.
https://www.mca.gov.in/content/mca/global/en/home.html
Public notice (prohibiting dealing in virtual currencies) issued by the RBI on 6 April 2018. Retrieved from https://www.rbi.org.in.
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