Cryptocurrency in India: Government’s Stand and Legal Status

Authors

  • Inchara P. M. Gowda ICSSR Post-Doctoral Fellow, Sahyadri Commerce and Management College, Shivamogga

DOI:

https://doi.org/10.33516/maj.v56i11.42-44p

Keywords:

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.

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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

Issue

Section

Cover Story

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

https://www.statista.com.

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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