Shivam Gour, National Law Institute University, Bhopal
DECRYPTING THE CRYPTO-CURRENCY: A COMPARATIVE ANALYSIS OF REGULATIONS GOVERNING THE CRYPTO-CURRENCY AROUND THE WORLD WITH INDIA IN LIGHT OF THE RECENT SUPREME COURT JUDGEMENT
Abstract
India is one of the largest and fastest growing markets in the world. This size and growth is not only limited to the market that we see i.e. the physical market, rather it also involves the online or digital marketplace, where we spend more time than physical markets nowadays. Crypto-currency is an emerging mode of payment in digital markets mainly because of the security and anonymity it provides to its users. This paper aims to bring into perspective the relevant laws and regulation in India by doing a comparative analysis with the laws pertaining to the same in developed nations like United States of America, United Kingdom, China and Switzerland. The paper also examines the Supreme Court’s judgement in the case of Internet and Mobile Association of India v. RBI in which the court uplifted the indirect ban imposed on crypto-currencies by RBI, while also delving into the issues that led to the ban in the first place. Further, the paper contains an analysis of the impact of COVID-19 on crypto-currencies and their markets.
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