Author(s): Akanksha Singh, Sharan Chawla

Email(s): akankshasingh0135@gmail.com

DOI: 10.5958/2454-2687.2019.00028.5   

Address: Akanksha Singh1, Sharan Chawla2
1Akanksha Singh, Assistant Professor, University of Petroleum and Energy Studies, Dehradun, Uttrakhand
2Sharan Chawla, B.Tech., LL.B. Cyber Law, University of Petroleum and Energy Studies, Dehradun, Uttrakhand
*Corresponding Author

Published In:   Volume - 7,      Issue - 2,     Year - 2019


ABSTRACT:
The technological revolution has amongst other things revolutionized money also. It has given birth to a new medium of exchange popularly known as cryptocurrency. It is available only in electronic or digital form and can be exchanged only through online media. Virtual Currencies have become highly popular these days due to increased privacy and lower transaction costs. The increased uses and interest of the people in these currencies around the globe and in India depicts that a strategic legal framework is necessary to deal with virtual currencies in the country as well as outside the country. The decentralized and anonymous nature of virtual currencies further gives rise to problems in their regulation. Cryptocurrency is accelerating other menaces like money laundering, terrorist funding and tax evasion, which needs to be addressed at the earliest. The authors have tried to bring out the legal and awareness issues with regard to cryptocurrency by conducting a survey and on the basis of the analysis of the survey results and present laws, the legal issues and challenges are pointed out and the possible solutions to them are proposed in the paper.


Cite this article:
Akanksha Singh, Sharan Chawla. Cryptocurrency Regulation: Legal Issues and Challenges. nt. J. Rev. and Res. Social Sci. 2019; 7(2): 365-375. doi: 10.5958/2454-2687.2019.00028.5


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