Bitcoin has been the talk of the market yet has the government report closed the doors to its development.
India is continually striving towards becoming a “digital” economy. Both public and private sectors have made efforts in this regard. Widespread use of mobile phones and internet, e-filing of taxes, e-payments for purchases etc. evidence this. Virtual currency is one such hotbed in the era of digitisation, innovation and technology. A virtual currency, namely Bitcoin, was introduced in the year 2008 and since then the market frenzy surrounding it hasn’t taken a halt. Different states across the world have reacted differently towards virtual currencies. Although it is widely accepted that the technology behind virtual currencies is groundbreaking, some states have outrightly banned virtual currencies whereas some have openly promoted it.
Indians have taken up virtual currencies very enthusiastically and have actively traded in them by way of establishing exchanges, start-up companies and even associations. However, India is still struggling to come up with a concrete policy on it. The Reserve bank of India has continuously cautioned the users of virtual currencies against its risks and has recently put a complete prohibition on it. This prohibitory order was challenged in the courts and it remains to be seen how India comes up with a framework on use and regulation of virtual currencies.
Virtual currencies have a large footprint in the today’s financial markets and they cannot be overlooked. This article seeks to trace its journey in India. Part – I very briefly describes the concept of virtual currencies and its related aspects. Part – II looks at some of the glitches encountered by the virtual currencies markets worldwide. Part – III highlights the attempts made to regulate virtual currencies both at national and international level. Part – IV suggests the possible course of action that can be taken up to govern virtual currencies in India.
Diese Geschichte stammt aus der LawZ August 2018-Ausgabe von LawZ Magazine.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der LawZ August 2018-Ausgabe von LawZ Magazine.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Freedom Of The Press: Print Media Near -Vs- Minnesota
This 1931 case is a landmark judgement highlighting the constitutional protection given to the freedom of the press.
Protection To Woman
Well, the Indian Penal code, acts as a sword as well as a shield for the Indian women.
Corporate Governance Past, Present & Future In India
While corporate governance may not dictate the economic prospects of developing countries, it certainly plays an integral role in shaping them. Corporate governance deals with the rights and responsibilities of a company’s management, its board, shareholders and various stakeholders.
Builders Can't Force Buyers To Go For Arbitration
It is a well settled law that arbitration agreements do not bar the jurisdiction of the National Consumer Disputes Redressal Commission (‘NCDRC’) and other consumer forums. The issue was, however, reconsidered at length by a Full Bench of the NCDRC, in Aftab Singh v Emaar MGF Land Limited &Anr [Consumer Case No 701 of 2015] in view of the amendments to the Arbitration and Conciliation Act 1996 (‘the Amended Act’).
The Unwanted Acid
Incidents of acid attacks in which the perpetrator throws acid at the face of the victim are on rise. Such acid violence have a specific gender dimension in India as a majority of reported victims have been women. While acid attacks constitute only a fraction of the total number of violent incidents against women, they are among the most horrific examples of brutality inflicted on women.
Iran Deal Withdrawal
WORST DEAL OR WORST MISTAKE
Law Regulating
ELECTIONS IN INDIA
Karl Marx
Karl Marx has been without doubt one of the most influential socialist thinkers till date. Although he was largely ignored by scholars, his social, economic and political ideas gained rapid acceptance.
Virtual Currencies In India Journey So Far
Bitcoin has been the talk of the market yet has the government report closed the doors to its development.
Applicability Of GDPR On Goods And Services Offered Over The Websites Outside The European Union
Applicability of the EU data Protection laws outside its territory and provision for its intl. avoidance