Cryptocurrencies: Analysis of the Technology and Need for Its Regulation

Abstract

Cryptocurrencies have been subject to much controversy across the world. So much so that many countries, including India, have made attempts to ban the cryptocurrency business altogether, considering it an economical threat which must be nipped in the bud. However, the crazy money that hangs in the air and concerns from the fin-tech entrepreneurs have made these governments sit up and take notice of the need for regulating the crypto market. The purpose of the present research is to delve into the evolution of cryptocurrencies, to analyze the legal issues surrounding the cryptocurrencies and their trading and the circumstances necessitating their regulation at the highest level. The research also covers the current international setup in cryptocurrency regulations and developing trends. The research gives a special emphasis on the Indian scenario – the developments in the past, regulatory actions, hits and misses, judicial pronouncements and emerging trends in the country.