The Indian Cryptocurrency Landscape: IAMAI v. RBI
A shocker of a circular was issued by the RBI on 6th April, 2018 that jolted the Indian cryptocurrency market. The said circular was issued under Section 35A read with Section 36(1)(a) of the Banking Regulation Act, 1949. All RBI regulated entities were deemed to make declaration that they shall not deal in or carry … Continue reading The Indian Cryptocurrency Landscape: IAMAI v. RBI
Read more »Protection of Non-Fungible Tokens in the United States
Introduction Since the advent of the Internet more than 20 years ago, society has benefited from an online network centred on communication, data, and information. A number of independent virtual worlds have also emerged, mostly on social media and in video games like Fortnite and TikTok. The metaverse promises interconnected virtual worlds that can be … Continue reading Protection of Non-Fungible Tokens in the United States
Read more »Taxing of Digital Assets As Per Budget 2022
INTRODUCTION The creator of Bitcoin, the first cryptocurrency to enter the market in 2009, went under the nickname Satoshi Nakamoto. Following that, a number of cryptocurrencies were introduced, with Bitcoin Cash, Ripple (XRP), Litecoin, and other well-known coins among the most widely used ones. As of January 2022, there are reportedly more than 8,000 cryptocurrencies. … Continue reading Taxing of Digital Assets As Per Budget 2022
Read more »NFT’S And Indian Law
What are Non-Fungible Tokens (NFT) NFT (Non-Fungible Token) are a digital assets that can be bought and sold online, usually with cryptocuurency. Understood as cryptographic assets, NFTs are usually a part of blockchains with a unique identification code and metadata that can be distinguished from one another. This is different from fungible tokens like cryptocurrencies … Continue reading NFT’S And Indian Law
Read more »Stand Of Indian Government On Protection Ipr For Virtual Digital Assets
The phrase “virtual digital assets” is used in the Finance Bill to refer to both cryptocurrencies and NFTs. The criteria for identifying bitcoins or similar apps as virtual digital assets were purposefully kept broad. Aside from the distinctions in their characteristics, cryptocurrencies serve as payment systems in which units are transferable and have some value. … Continue reading Stand Of Indian Government On Protection Ipr For Virtual Digital Assets
Read more »Revisiting The Concept Of Consideration Un-der Indian Law Vis-A-Vis Smart Contracts
Over the years, the nature of contract has undergone a significant change, i.e., from conventional written contracts to digital smart contracts. Previously, contracts used to be in a written form duly signed by the parties and in exchange of tangible consideration. However, with increasing global trade and technological development, conventional contracts are being replaced by … Continue reading Revisiting The Concept Of Consideration Un-der Indian Law Vis-A-Vis Smart Contracts
Read more »Digital Currency Taxation Proposals – Features And Way Forward
Introduction On February 1st, 2022, during her budget speech[1], India’s Finance Minister made a huge announcement which is somewhat considered as a setback for the crypto industry. She announced that any income derived from the transfer of digital assets including cryptocurrencies, shall be taxable at a rate of 30% in addition to TDS on payments … Continue reading Digital Currency Taxation Proposals – Features And Way Forward
Read more »The Development of NFTs through the Legal Perspective
Due to its growing price and increasing presence in creative works such as art, tweets, songs, memes, photographs, other digital media, or a virtual representation of, Non-Fungible Tokens (hence, NFTs) have become a popular issue over the last couple of months. NFTs are a cryptographically created receipt of ownership of a certain thing or entity. … Continue reading The Development of NFTs through the Legal Perspective
Read more »The Legal Dilemma of Cryptocurrency in India
Introduction Cryptocurrency, also known as virtual or digital currency, is based on blockchain technology and has become a global phenomenon known to the majority of the people in the world. Through the medium of internet, the financial transactions are intended to take place strictly in terms of cryptographical functions. The cryptocurrencies can be transferred from … Continue reading The Legal Dilemma of Cryptocurrency in India
Read more »Smart Contract In The Indian Crucible
Smart Contracts- First Impressions Few words have caused as much bewilderment in the Indian setup as “blockchain” and “smart contracts” have. Much excitement has been generated by the coverage of cryptocurrencies in mainstream media, and the general aspiration towards digital transactions. But, the lack of understanding of the workings of the systems has stalled the … Continue reading Smart Contract In The Indian Crucible
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