SlideShare ist ein Scribd-Unternehmen logo
IS
CRYPTOCURRE
NCY LEGAL IN
INDIA ?
CRYPTO
NEWS
WHY CRYPTOCURRENCY IS SO POPULAR ?
Bitcoin or Cryptocurrency is a topic that has
sparked our curiosity. Indeed, today many a people
want to invest in cryptocurrency Bitcoin and with
the rise of home-based stock trading via different
mobile apps, many will be unable to resist the
seduction of various cryptocurrencies. We heard
that many elite communities in India have already
invested in Bitcoin in order to expand their
investment.
https://www.youtube.com/watch?v=qQPz5SoYJgw
RISK IN CRYPTO
RISK IN BITCOIN
CRYPTO SCAM COINS
CRYPTO NEWS TODAY
CRYPTO NEWS IN INDIA
To buy bitcoin in India, one can use various mobile
applications available online. Few days ago, one guy in
one part of West Bengal was cheated up to Rs. 60,000
while using those applications to purchase Bitcoin. In
this scenario, because there is no legal recourse, it is
strongly recommended that you proceed by viewing,
learning, and knowing before investing in Bitcoin or any
other currencies. Very recently, Crypto scam to the
tune of nearly Rs. 2800 cr. was heard in the forming
evasion of tax where some Chinese people are involved.
Even, one person has been arrested for using bitcoin in
purchasing drugs.
https://www.youtube.com/watch?v=-CDCwe9o_LI&t=88s
RISK IN CRYPTO
RISK IN BITCOIN
The price of a bitcoin peaked around Rs. 42
lakhs in early May 2021, but dropped below
Rs. 25 lakhs, a few days later after the
publishing of news on the worldwide
market. Now the question is, since Bitcoin
is a digital currency or asset that does not
follow the centralized currency system, so
there is no government agency to oversee
the fluctuations and mobility of Bitcoin or
other cryptocurrencies and its outcome.
https://www.soolegal.com/roar/crypto-news-india-is-
cryptocurrency-legal-in-india-in-bengali--2
INNOVATION OF BITCOIN
– SATOSHI NAKAMOTO WHITE PAPER
– SATOSHI NAKAMOTO IDENTITY
If we go back a little bit, we can see that there
was an economic recession all over the world from
2007 to 2009, and about the same time in 2009, a
white-paper titled "Bitcoin: A Peer-to-Peer
Electronic Cash System" was released on the
bitcoin.org website. In the front page of such
nine-page white paper written by Satoshi
Nakamoto, he says Bitcoin is “A purely peer-to-
peer version of electronic cash would allow online
payments to be sent directly from one party to
another without going through a financial
institution.”
Although this nine-page white paper is quite
complex, Satoshi Nakamoto describes on
the second page, “We define an electronic
coin as a chain digital signature.”
In the eighth page under heading
“Conclusion”, he wrote “We have proposed
a system for electronic transactions without
relying on trust”.
WHAT ARE CRYPTOCURRENCIES ?
Remember that Bitcoin is the oldest and
popular cryptocurrency system, and there are
many more cryptocurrencies such as
Dogecoin, Ethereum, Safe Moon coin and
others. The cryptocurrency Bitcoin is not a
Fiat currency, meaning it is not guaranteed at
a price like gold.
https://www.soolegal.com/roar/crypto-news-india-is-
cryptocurrency-legal-in-india-
As per RBI “Every banknote issued by
Reserve Bank of India ……. unless withdrawn
from circulation, shall be legal tender at any
place in India in payment or on account for
the amount expressed therein, and shall be
guaranteed by the Central Government.”
In conventional money, the Governor of the
Reserve Bank of India guarantees the
payment of equal sum, implying that there is
always credibility, which Bitcoin or
cryptocurrency will never have.
https://bivas-chatterjee.medium.com/crypto-news-india-is-
cryptocurrency-legal-in-india-supreme-court-on-cryptocurrency-
in-india-a33c613bd55
It is nothing but the proof of originality of some pictures, videos etc. written by the
original owner which means the NFTs holder will have the original token.
https://www.linkedin.com/pulse/crypto-news-india-cryptocurrency-legal-supreme-court-bivas-chatterjee/
Another digital
asset which has
recently become
very famous is
NFTs (i.e. non-
fungible tokens)
BITCOIN PRICE PREDICTION – BITCOIN PRICE FACTOR :
Bitcoin, however, is the most widely used by investors.
The Bitcoin is algorithmed in such a way that after the
year 2140, no bitcoins can be mined further and that is
why the crypto supporters advocate the fact that
Cryptocurrency will not experience inflation like any legal
tender money. As per the supporters of Bitcoin, it is safe
and legal tender money is fossilized concept. But there
are lot of concerns and one of them, since Bitcoin is not
governed by any country's laws or supervised by any
authority, it is impossible to know how the price of
Bitcoin swings or who rises or decreases it.
https://www.facebook.com/AwarenessAgainstCyberCrimes/vi
deos/288105123040327
Now in many cases we see that
the price of GPUs i.e. graphical
processors unit that are used in
mining is skyrocketing.
In this case, even huge
electrical energy is also
big issue.
HOW THE LAW ENFORCEMENT AGENCY INVESTIGATE BITCOIN ?
- WHY HACKERS USE BITCOIN ?
Another aspect to consider is how the
investigating officials can gather money trail
when the crime has been committed using
Bitcoin. In a nutshell, Bitcoin incorporates
features that use encryption and digital
signatures to protect the Bitcoin network's
security, thus it is a part of the virtual world
but has nothing to do with its physical
existence and due to which it cannot be
traced out.
We have seen the use of
bitcoin in many heinous
types of crimes starting
from narcotic drugs sale to
large-scale ransomware.
IS IT LEGAL TO INVEST IN BITCOIN OR CRYPTOCURRENCY IN INDIA ?
This is a question that occurred in many people's
minds nowadays. Let's take a look at the scenario.
After the invention of Bitcoin, several countries
around the world outright banned it; nevertheless,
certain countries have a liberal outlook.
There are even countries who have
come with laws defining
Cryptocurrencies, namely –
Japan, Malta, Canada, Bahamas,
Estonia, Latvia, Israel, Mexico,
Austria, Czech Republic, Germany,
Luxembourg, Slovakia, European
Union and United Kingdom.
On 24th December, 2013 –
The Reserve Bank of India has issued
a warning to users, holders, and
traders of "Decentralised Digital
Currency" or "Virtual Currency," such
as Bitcoins, regarding the potential
financial, operational, legal, customer
protection, and security risks they are
taking.
WHETHER BITCOIN IS LEGAL IN INDIA ?
- RBI CIRCULAR ON CRYPTOCURRENCY
- RBI ON CRYPTOCURRENCY
https://anchor.fm/cyber-chatterjee/episodes/Is-Cryptocurrency-Legal-In-
India--Crypto-News-in-India-In-Bengali-e132q9e
On 1st February, 2017 –
The Reserve Bank of India has not
granted any business or firm a licence or
authorization to operate or deal in
Bitcoin or any other virtual currency. As
a result, anyone interacting with Virtual
Currencies, whether as a user, holder,
investor, trader, or otherwise, does so
at their own risk.
https://www.cyberchatterjee.com/2021/06/cryptocurre
ncy-news-india-is.html
On 5th April, 2018 –
Consumer protection, market integrity,
and money laundering are among the
problems raised by virtual currencies,
often known as crypto-currency and
crypto assets.
On the 6th April, 2018 -
The RBI's regulated firms like
Commercial Payment Banks, Small
Finance Banks, NBFCs are prohibited
from dealing in virtual currencies or
providing services to assist anyone in
dealing with or settling virtual
currencies. Regulated entities that
already supply such services must end
the arrangement within three months
of this circular's publication.
HON’BLE SUPREME COURT OF INDIA
ON CRYPTOCURRENCY
In the year 2018 –
a case was then filed in the Hon’ble Supreme Court
challenging the Circular known as
Internet and Mobile Association of India
v.
Reserve Bank of India,
Writ Petition (Civil) No. 528 of 2018,
in which the Hon’ble Supreme Court of India, on 20th
March, 2020, set aside the aforementioned RBI
circular dated 6th April, 2018.
But the Hon’ble Court keep open the observation of
press release dated 5th April, 2018 by the RBI.
On 31st May, 2021 –
The Reserve bank of India informed that, in
view of the order of the Hon’ble Supreme
Court of India, the prohibition circular dated
6th April, 2018 over Virtual Currencies is no
longer effective from the date of the
judgement passed by Hon’ble Supreme Court.
Banks, as well as other entities may, however,
continue to carry out customer due diligence
processes in line with regulations governing
standards.
In the present circumstances, to put it another way, Bitcoin
and other cryptocurrencies are neither illegal nor legal in
India at the present, therefore individuals who trade in
Bitcoin do so at their own risk. In any event, if your hard-
earned money is wasted, no one will be held accountable.
CAN WE INVEST IN BITCOIN ?
Or
CAN WE TRADE IN BITCOIN IN INDIA ?
Many people believe that Bitcoin is a digital
asset and some people are of the view that it is
nothing but Ponzi scheme to cheat the common
people. We also heard that to control the
activities of crypto currencies, the Government
has come with a Bill. We are eagerly waiting for
the law on Cryptocurrency.
THANKS FOR PAYING ATTENTION TO
MR. BIVAS CHATTERJEE
Special P.P.
Cyber Crime and Electronics Evidence
related cases
GOVERNMENT OF WEST BENGAL

Weitere ähnliche Inhalte

Was ist angesagt?

Security and Crypto-currency: Forecasting the Future of Privacy for Private I...
Security and Crypto-currency: Forecasting the Future of Privacy for Private I...Security and Crypto-currency: Forecasting the Future of Privacy for Private I...
Security and Crypto-currency: Forecasting the Future of Privacy for Private I...Investments Network marcus evans
 
Cryptocurrency Regulation
Cryptocurrency RegulationCryptocurrency Regulation
Cryptocurrency RegulationSUJATA MUNI
 
Indian approach on bitcoins, cryptocurrencies and blockchain – legal practica...
Indian approach on bitcoins, cryptocurrencies and blockchain – legal practica...Indian approach on bitcoins, cryptocurrencies and blockchain – legal practica...
Indian approach on bitcoins, cryptocurrencies and blockchain – legal practica...Vijay Dalmia
 
Cryptocurrency- Intoduction and Significances
Cryptocurrency- Intoduction and SignificancesCryptocurrency- Intoduction and Significances
Cryptocurrency- Intoduction and SignificancesKaran Verma
 
Future of crypto currency in india
Future of crypto currency in indiaFuture of crypto currency in india
Future of crypto currency in indiaamit saini
 
Cryptocurrency
CryptocurrencyCryptocurrency
Cryptocurrencycrypt00
 
bitcoin technology report
bitcoin technology reportbitcoin technology report
bitcoin technology reportShivani Darshan
 
Cryptocurrency Investment Regulation
Cryptocurrency Investment RegulationCryptocurrency Investment Regulation
Cryptocurrency Investment RegulationInvestingTips
 
What is Cryptocurrencies? Impact on World Economy & Indian Economy
What is Cryptocurrencies? Impact on World Economy & Indian EconomyWhat is Cryptocurrencies? Impact on World Economy & Indian Economy
What is Cryptocurrencies? Impact on World Economy & Indian Economyhritviksoni2
 
ASIADIGITALCOIN | ASIA DIGITAL COIN (ADCN) COMPENSATION PLAN
ASIADIGITALCOIN | ASIA DIGITAL COIN (ADCN) COMPENSATION PLAN ASIADIGITALCOIN | ASIA DIGITAL COIN (ADCN) COMPENSATION PLAN
ASIADIGITALCOIN | ASIA DIGITAL COIN (ADCN) COMPENSATION PLAN Shaikh Amin
 
How To Invest In Cryptocurrency?
How To Invest In Cryptocurrency?How To Invest In Cryptocurrency?
How To Invest In Cryptocurrency?yottalaboratories
 
Future of cryptocurrency ppt.
Future of cryptocurrency ppt.Future of cryptocurrency ppt.
Future of cryptocurrency ppt.Bitex Global
 
State of Bitcoin Q2 2014
State of Bitcoin Q2 2014State of Bitcoin Q2 2014
State of Bitcoin Q2 2014CoinDesk
 
Introduction To CryptoCurrency
Introduction To CryptoCurrencyIntroduction To CryptoCurrency
Introduction To CryptoCurrencySanjay Kumar
 
Digital Currency Systems: Emerging B2B e-Commerce Alternative During Monetary...
Digital Currency Systems: Emerging B2B e-Commerce Alternative During Monetary...Digital Currency Systems: Emerging B2B e-Commerce Alternative During Monetary...
Digital Currency Systems: Emerging B2B e-Commerce Alternative During Monetary...cjwells
 
An Overview of Cryptocurrencies
An Overview of CryptocurrenciesAn Overview of Cryptocurrencies
An Overview of CryptocurrenciesRizal Mohd Nor
 

Was ist angesagt? (20)

Security and Crypto-currency: Forecasting the Future of Privacy for Private I...
Security and Crypto-currency: Forecasting the Future of Privacy for Private I...Security and Crypto-currency: Forecasting the Future of Privacy for Private I...
Security and Crypto-currency: Forecasting the Future of Privacy for Private I...
 
Cryptocurrency Regulation
Cryptocurrency RegulationCryptocurrency Regulation
Cryptocurrency Regulation
 
Indian approach on bitcoins, cryptocurrencies and blockchain – legal practica...
Indian approach on bitcoins, cryptocurrencies and blockchain – legal practica...Indian approach on bitcoins, cryptocurrencies and blockchain – legal practica...
Indian approach on bitcoins, cryptocurrencies and blockchain – legal practica...
 
Is bitcoin illegal in India ( March,2017)
Is bitcoin illegal in India ( March,2017)Is bitcoin illegal in India ( March,2017)
Is bitcoin illegal in India ( March,2017)
 
Cryptocurrency- Intoduction and Significances
Cryptocurrency- Intoduction and SignificancesCryptocurrency- Intoduction and Significances
Cryptocurrency- Intoduction and Significances
 
Future of crypto currency in india
Future of crypto currency in indiaFuture of crypto currency in india
Future of crypto currency in india
 
CH&Cie_Article Cryptocurrencies
CH&Cie_Article CryptocurrenciesCH&Cie_Article Cryptocurrencies
CH&Cie_Article Cryptocurrencies
 
Cryptocurrency
CryptocurrencyCryptocurrency
Cryptocurrency
 
BitCoin report
BitCoin reportBitCoin report
BitCoin report
 
bitcoin technology report
bitcoin technology reportbitcoin technology report
bitcoin technology report
 
Cryptocurrency Investment Regulation
Cryptocurrency Investment RegulationCryptocurrency Investment Regulation
Cryptocurrency Investment Regulation
 
What is Cryptocurrencies? Impact on World Economy & Indian Economy
What is Cryptocurrencies? Impact on World Economy & Indian EconomyWhat is Cryptocurrencies? Impact on World Economy & Indian Economy
What is Cryptocurrencies? Impact on World Economy & Indian Economy
 
ASIADIGITALCOIN | ASIA DIGITAL COIN (ADCN) COMPENSATION PLAN
ASIADIGITALCOIN | ASIA DIGITAL COIN (ADCN) COMPENSATION PLAN ASIADIGITALCOIN | ASIA DIGITAL COIN (ADCN) COMPENSATION PLAN
ASIADIGITALCOIN | ASIA DIGITAL COIN (ADCN) COMPENSATION PLAN
 
How To Invest In Cryptocurrency?
How To Invest In Cryptocurrency?How To Invest In Cryptocurrency?
How To Invest In Cryptocurrency?
 
Legality of bitcoins by Prashant Mali
Legality of bitcoins by Prashant MaliLegality of bitcoins by Prashant Mali
Legality of bitcoins by Prashant Mali
 
Future of cryptocurrency ppt.
Future of cryptocurrency ppt.Future of cryptocurrency ppt.
Future of cryptocurrency ppt.
 
State of Bitcoin Q2 2014
State of Bitcoin Q2 2014State of Bitcoin Q2 2014
State of Bitcoin Q2 2014
 
Introduction To CryptoCurrency
Introduction To CryptoCurrencyIntroduction To CryptoCurrency
Introduction To CryptoCurrency
 
Digital Currency Systems: Emerging B2B e-Commerce Alternative During Monetary...
Digital Currency Systems: Emerging B2B e-Commerce Alternative During Monetary...Digital Currency Systems: Emerging B2B e-Commerce Alternative During Monetary...
Digital Currency Systems: Emerging B2B e-Commerce Alternative During Monetary...
 
An Overview of Cryptocurrencies
An Overview of CryptocurrenciesAn Overview of Cryptocurrencies
An Overview of Cryptocurrencies
 

Ähnlich wie Cryptocurrency News India : Is Cryptocurrency Legal In INDIA ? SUPREME COURT ON CRYPTO IN INDIA

How Cryptocurrency is affecting the Indian economy
How Cryptocurrency is affecting the Indian economyHow Cryptocurrency is affecting the Indian economy
How Cryptocurrency is affecting the Indian economyOliviaJune1
 
Bitcoin Final Year Seminar Report
Bitcoin Final Year Seminar ReportBitcoin Final Year Seminar Report
Bitcoin Final Year Seminar ReportShantanu Singh
 
A beginners guide to bitcoin
A beginners guide to bitcoinA beginners guide to bitcoin
A beginners guide to bitcoinCoinGape
 
Bitcoin An exploratory view into the crypto worldBitcoin A.docx
Bitcoin An exploratory view into the crypto worldBitcoin A.docxBitcoin An exploratory view into the crypto worldBitcoin A.docx
Bitcoin An exploratory view into the crypto worldBitcoin A.docxAASTHA76
 
Conceptual Issues and Basic Method of BitCoin, Cryptography, Economics & The ...
Conceptual Issues and Basic Method of BitCoin, Cryptography, Economics & The ...Conceptual Issues and Basic Method of BitCoin, Cryptography, Economics & The ...
Conceptual Issues and Basic Method of BitCoin, Cryptography, Economics & The ...Chimezie Chuta
 
Study on Bitcoin
Study on BitcoinStudy on Bitcoin
Study on BitcoinKetanNaik16
 
Rise-of-bitcoin.pdf
Rise-of-bitcoin.pdfRise-of-bitcoin.pdf
Rise-of-bitcoin.pdfJames Euan
 
What is it, and is it right for your business
What is it, and is it right for your businessWhat is it, and is it right for your business
What is it, and is it right for your businessWes Loyd
 
Invest in bitcoins , and cryptocurrency at buyUcoin - India's best crypto tra...
Invest in bitcoins , and cryptocurrency at buyUcoin - India's best crypto tra...Invest in bitcoins , and cryptocurrency at buyUcoin - India's best crypto tra...
Invest in bitcoins , and cryptocurrency at buyUcoin - India's best crypto tra...PrathamJaisz
 
Bitcoin innovations and obstacles
Bitcoin innovations and obstaclesBitcoin innovations and obstacles
Bitcoin innovations and obstaclesTroy Adkins
 
2017-12 Bitcoins, the future of money!
2017-12 Bitcoins, the future of money!2017-12 Bitcoins, the future of money!
2017-12 Bitcoins, the future of money!Sandeep Goenka
 
CRYPTO-CURRENCY By Sahil (G.N.D.U College, Jalandhar)
CRYPTO-CURRENCY By Sahil (G.N.D.U College, Jalandhar)CRYPTO-CURRENCY By Sahil (G.N.D.U College, Jalandhar)
CRYPTO-CURRENCY By Sahil (G.N.D.U College, Jalandhar)Sahil Arya
 
CRYPTO-CURRENCY. Ppt by Sahil (G.N.D.U college, Jalandhar)
CRYPTO-CURRENCY. Ppt by Sahil (G.N.D.U college, Jalandhar)CRYPTO-CURRENCY. Ppt by Sahil (G.N.D.U college, Jalandhar)
CRYPTO-CURRENCY. Ppt by Sahil (G.N.D.U college, Jalandhar)Sahil Arya
 
What you should know about bitcoin
What you should know about bitcoinWhat you should know about bitcoin
What you should know about bitcoinPaul Tocatlian
 
Introduction to Bitcoin
Introduction to BitcoinIntroduction to Bitcoin
Introduction to BitcoinVenu Azad
 

Ähnlich wie Cryptocurrency News India : Is Cryptocurrency Legal In INDIA ? SUPREME COURT ON CRYPTO IN INDIA (20)

How Cryptocurrency is affecting the Indian economy
How Cryptocurrency is affecting the Indian economyHow Cryptocurrency is affecting the Indian economy
How Cryptocurrency is affecting the Indian economy
 
What is bitcoin?
What is bitcoin?What is bitcoin?
What is bitcoin?
 
Bitcoin Final Year Seminar Report
Bitcoin Final Year Seminar ReportBitcoin Final Year Seminar Report
Bitcoin Final Year Seminar Report
 
A beginners guide to bitcoin
A beginners guide to bitcoinA beginners guide to bitcoin
A beginners guide to bitcoin
 
Bitcoin
BitcoinBitcoin
Bitcoin
 
Bitcoin An exploratory view into the crypto worldBitcoin A.docx
Bitcoin An exploratory view into the crypto worldBitcoin A.docxBitcoin An exploratory view into the crypto worldBitcoin A.docx
Bitcoin An exploratory view into the crypto worldBitcoin A.docx
 
Conceptual Issues and Basic Method of BitCoin, Cryptography, Economics & The ...
Conceptual Issues and Basic Method of BitCoin, Cryptography, Economics & The ...Conceptual Issues and Basic Method of BitCoin, Cryptography, Economics & The ...
Conceptual Issues and Basic Method of BitCoin, Cryptography, Economics & The ...
 
Study on Bitcoin
Study on BitcoinStudy on Bitcoin
Study on Bitcoin
 
Bitcoin
BitcoinBitcoin
Bitcoin
 
Rise-of-bitcoin.pdf
Rise-of-bitcoin.pdfRise-of-bitcoin.pdf
Rise-of-bitcoin.pdf
 
What is it, and is it right for your business
What is it, and is it right for your businessWhat is it, and is it right for your business
What is it, and is it right for your business
 
Invest in bitcoins , and cryptocurrency at buyUcoin - India's best crypto tra...
Invest in bitcoins , and cryptocurrency at buyUcoin - India's best crypto tra...Invest in bitcoins , and cryptocurrency at buyUcoin - India's best crypto tra...
Invest in bitcoins , and cryptocurrency at buyUcoin - India's best crypto tra...
 
Nuvmining
NuvminingNuvmining
Nuvmining
 
Bitcoin innovations and obstacles
Bitcoin innovations and obstaclesBitcoin innovations and obstacles
Bitcoin innovations and obstacles
 
Bitcoins
BitcoinsBitcoins
Bitcoins
 
2017-12 Bitcoins, the future of money!
2017-12 Bitcoins, the future of money!2017-12 Bitcoins, the future of money!
2017-12 Bitcoins, the future of money!
 
CRYPTO-CURRENCY By Sahil (G.N.D.U College, Jalandhar)
CRYPTO-CURRENCY By Sahil (G.N.D.U College, Jalandhar)CRYPTO-CURRENCY By Sahil (G.N.D.U College, Jalandhar)
CRYPTO-CURRENCY By Sahil (G.N.D.U College, Jalandhar)
 
CRYPTO-CURRENCY. Ppt by Sahil (G.N.D.U college, Jalandhar)
CRYPTO-CURRENCY. Ppt by Sahil (G.N.D.U college, Jalandhar)CRYPTO-CURRENCY. Ppt by Sahil (G.N.D.U college, Jalandhar)
CRYPTO-CURRENCY. Ppt by Sahil (G.N.D.U college, Jalandhar)
 
What you should know about bitcoin
What you should know about bitcoinWhat you should know about bitcoin
What you should know about bitcoin
 
Introduction to Bitcoin
Introduction to BitcoinIntroduction to Bitcoin
Introduction to Bitcoin
 

Mehr von Bivas Chatterjee

Scheduled Caste and Scheduled Tribe (Prevention of Atrocities) Act, 1989 | SC...
Scheduled Caste and Scheduled Tribe (Prevention of Atrocities) Act, 1989 | SC...Scheduled Caste and Scheduled Tribe (Prevention of Atrocities) Act, 1989 | SC...
Scheduled Caste and Scheduled Tribe (Prevention of Atrocities) Act, 1989 | SC...Bivas Chatterjee
 
Cyber law in Hindi | How to Prevent Cyber Crime in Hindi |
Cyber law in Hindi | How to Prevent Cyber Crime in Hindi | Cyber law in Hindi | How to Prevent Cyber Crime in Hindi |
Cyber law in Hindi | How to Prevent Cyber Crime in Hindi | Bivas Chatterjee
 
General Data Protection Regulation (GDPR) | Privacy Law in India |
General Data Protection Regulation (GDPR) | Privacy Law in India |General Data Protection Regulation (GDPR) | Privacy Law in India |
General Data Protection Regulation (GDPR) | Privacy Law in India |Bivas Chatterjee
 
What happens to our virtual account or digital asset or data after our death ?
What happens to our virtual account or digital asset or data after our death ?What happens to our virtual account or digital asset or data after our death ?
What happens to our virtual account or digital asset or data after our death ?Bivas Chatterjee
 
Cyber crime journal by central detective training school
Cyber crime journal by central detective training schoolCyber crime journal by central detective training school
Cyber crime journal by central detective training schoolBivas Chatterjee
 

Mehr von Bivas Chatterjee (6)

Scheduled Caste and Scheduled Tribe (Prevention of Atrocities) Act, 1989 | SC...
Scheduled Caste and Scheduled Tribe (Prevention of Atrocities) Act, 1989 | SC...Scheduled Caste and Scheduled Tribe (Prevention of Atrocities) Act, 1989 | SC...
Scheduled Caste and Scheduled Tribe (Prevention of Atrocities) Act, 1989 | SC...
 
Cyber law in Hindi | How to Prevent Cyber Crime in Hindi |
Cyber law in Hindi | How to Prevent Cyber Crime in Hindi | Cyber law in Hindi | How to Prevent Cyber Crime in Hindi |
Cyber law in Hindi | How to Prevent Cyber Crime in Hindi |
 
General Data Protection Regulation (GDPR) | Privacy Law in India |
General Data Protection Regulation (GDPR) | Privacy Law in India |General Data Protection Regulation (GDPR) | Privacy Law in India |
General Data Protection Regulation (GDPR) | Privacy Law in India |
 
What happens to our virtual account or digital asset or data after our death ?
What happens to our virtual account or digital asset or data after our death ?What happens to our virtual account or digital asset or data after our death ?
What happens to our virtual account or digital asset or data after our death ?
 
ugc
ugcugc
ugc
 
Cyber crime journal by central detective training school
Cyber crime journal by central detective training schoolCyber crime journal by central detective training school
Cyber crime journal by central detective training school
 

Kürzlich hochgeladen

RIGHTS OF VICTIM EDITED PRESENTATION(SAIF JAVED).pptx
RIGHTS OF VICTIM EDITED PRESENTATION(SAIF JAVED).pptxRIGHTS OF VICTIM EDITED PRESENTATION(SAIF JAVED).pptx
RIGHTS OF VICTIM EDITED PRESENTATION(SAIF JAVED).pptxOmGod1
 
7 Basic Steps of Trust Administration.pdf
7 Basic Steps of Trust Administration.pdf7 Basic Steps of Trust Administration.pdf
7 Basic Steps of Trust Administration.pdfGoodman Estate Law
 
Application of Doctrine of Renvoi by foreign courts under conflict of laws
Application of Doctrine of Renvoi by foreign courts under conflict of lawsApplication of Doctrine of Renvoi by foreign courts under conflict of laws
Application of Doctrine of Renvoi by foreign courts under conflict of lawsanvithaav
 
Embed-1-4.pdf Decision of the High Court
Embed-1-4.pdf Decision of the High CourtEmbed-1-4.pdf Decision of the High Court
Embed-1-4.pdf Decision of the High Courtbhavenpr
 
VIETNAM - DIRECT POWER PURCHASE AGREEMENTS (DPPA) - Latest development - What...
VIETNAM - DIRECT POWER PURCHASE AGREEMENTS (DPPA) - Latest development - What...VIETNAM - DIRECT POWER PURCHASE AGREEMENTS (DPPA) - Latest development - What...
VIETNAM - DIRECT POWER PURCHASE AGREEMENTS (DPPA) - Latest development - What...Dr. Oliver Massmann
 
DNA Testing in Civil and Criminal Matters.pptx
DNA Testing in Civil and Criminal Matters.pptxDNA Testing in Civil and Criminal Matters.pptx
DNA Testing in Civil and Criminal Matters.pptxpatrons legal
 
PRECEDENT AS A SOURCE OF LAW (SAIF JAVED).pptx
PRECEDENT AS A SOURCE OF LAW (SAIF JAVED).pptxPRECEDENT AS A SOURCE OF LAW (SAIF JAVED).pptx
PRECEDENT AS A SOURCE OF LAW (SAIF JAVED).pptxOmGod1
 
Casa Tradicion v. Casa Azul Spirits (S.D. Tex. 2024)
Casa Tradicion v. Casa Azul Spirits (S.D. Tex. 2024)Casa Tradicion v. Casa Azul Spirits (S.D. Tex. 2024)
Casa Tradicion v. Casa Azul Spirits (S.D. Tex. 2024)Mike Keyes
 
Dandan Liu is the worst real estate agent on earth..pdf
Dandan Liu is the worst real estate agent on earth..pdfDandan Liu is the worst real estate agent on earth..pdf
Dandan Liu is the worst real estate agent on earth..pdfbraydenstoch777
 
indian evidence act.pdf.......very helpful for law student
indian evidence act.pdf.......very helpful for law studentindian evidence act.pdf.......very helpful for law student
indian evidence act.pdf.......very helpful for law studentAaruKhanduri
 
Solidarity and Taxation: the Ubuntu approach in South Africa
Solidarity and Taxation: the Ubuntu approach in South AfricaSolidarity and Taxation: the Ubuntu approach in South Africa
Solidarity and Taxation: the Ubuntu approach in South AfricaUniversity of Ferrara
 
Everything You Should Know About Child Custody and Parenting While Living in ...
Everything You Should Know About Child Custody and Parenting While Living in ...Everything You Should Know About Child Custody and Parenting While Living in ...
Everything You Should Know About Child Custody and Parenting While Living in ...AvinashMittal5
 
REVIVING OUR STAR GOD IMAGES FROM MARRYING OUR 4 HOLY LAWS OF STAR GODS
REVIVING OUR STAR GOD IMAGES FROM MARRYING OUR 4 HOLY LAWS OF STAR GODSREVIVING OUR STAR GOD IMAGES FROM MARRYING OUR 4 HOLY LAWS OF STAR GODS
REVIVING OUR STAR GOD IMAGES FROM MARRYING OUR 4 HOLY LAWS OF STAR GODSCheong Man Keong
 

Kürzlich hochgeladen (15)

RIGHTS OF VICTIM EDITED PRESENTATION(SAIF JAVED).pptx
RIGHTS OF VICTIM EDITED PRESENTATION(SAIF JAVED).pptxRIGHTS OF VICTIM EDITED PRESENTATION(SAIF JAVED).pptx
RIGHTS OF VICTIM EDITED PRESENTATION(SAIF JAVED).pptx
 
7 Basic Steps of Trust Administration.pdf
7 Basic Steps of Trust Administration.pdf7 Basic Steps of Trust Administration.pdf
7 Basic Steps of Trust Administration.pdf
 
Application of Doctrine of Renvoi by foreign courts under conflict of laws
Application of Doctrine of Renvoi by foreign courts under conflict of lawsApplication of Doctrine of Renvoi by foreign courts under conflict of laws
Application of Doctrine of Renvoi by foreign courts under conflict of laws
 
Justice Advocates Legal Defence Firm
Justice Advocates Legal Defence FirmJustice Advocates Legal Defence Firm
Justice Advocates Legal Defence Firm
 
Embed-1-4.pdf Decision of the High Court
Embed-1-4.pdf Decision of the High CourtEmbed-1-4.pdf Decision of the High Court
Embed-1-4.pdf Decision of the High Court
 
VIETNAM - DIRECT POWER PURCHASE AGREEMENTS (DPPA) - Latest development - What...
VIETNAM - DIRECT POWER PURCHASE AGREEMENTS (DPPA) - Latest development - What...VIETNAM - DIRECT POWER PURCHASE AGREEMENTS (DPPA) - Latest development - What...
VIETNAM - DIRECT POWER PURCHASE AGREEMENTS (DPPA) - Latest development - What...
 
DNA Testing in Civil and Criminal Matters.pptx
DNA Testing in Civil and Criminal Matters.pptxDNA Testing in Civil and Criminal Matters.pptx
DNA Testing in Civil and Criminal Matters.pptx
 
Charge and its essentials rules Under the CRPC, 1898
Charge and its essentials rules Under the CRPC, 1898Charge and its essentials rules Under the CRPC, 1898
Charge and its essentials rules Under the CRPC, 1898
 
PRECEDENT AS A SOURCE OF LAW (SAIF JAVED).pptx
PRECEDENT AS A SOURCE OF LAW (SAIF JAVED).pptxPRECEDENT AS A SOURCE OF LAW (SAIF JAVED).pptx
PRECEDENT AS A SOURCE OF LAW (SAIF JAVED).pptx
 
Casa Tradicion v. Casa Azul Spirits (S.D. Tex. 2024)
Casa Tradicion v. Casa Azul Spirits (S.D. Tex. 2024)Casa Tradicion v. Casa Azul Spirits (S.D. Tex. 2024)
Casa Tradicion v. Casa Azul Spirits (S.D. Tex. 2024)
 
Dandan Liu is the worst real estate agent on earth..pdf
Dandan Liu is the worst real estate agent on earth..pdfDandan Liu is the worst real estate agent on earth..pdf
Dandan Liu is the worst real estate agent on earth..pdf
 
indian evidence act.pdf.......very helpful for law student
indian evidence act.pdf.......very helpful for law studentindian evidence act.pdf.......very helpful for law student
indian evidence act.pdf.......very helpful for law student
 
Solidarity and Taxation: the Ubuntu approach in South Africa
Solidarity and Taxation: the Ubuntu approach in South AfricaSolidarity and Taxation: the Ubuntu approach in South Africa
Solidarity and Taxation: the Ubuntu approach in South Africa
 
Everything You Should Know About Child Custody and Parenting While Living in ...
Everything You Should Know About Child Custody and Parenting While Living in ...Everything You Should Know About Child Custody and Parenting While Living in ...
Everything You Should Know About Child Custody and Parenting While Living in ...
 
REVIVING OUR STAR GOD IMAGES FROM MARRYING OUR 4 HOLY LAWS OF STAR GODS
REVIVING OUR STAR GOD IMAGES FROM MARRYING OUR 4 HOLY LAWS OF STAR GODSREVIVING OUR STAR GOD IMAGES FROM MARRYING OUR 4 HOLY LAWS OF STAR GODS
REVIVING OUR STAR GOD IMAGES FROM MARRYING OUR 4 HOLY LAWS OF STAR GODS
 

Cryptocurrency News India : Is Cryptocurrency Legal In INDIA ? SUPREME COURT ON CRYPTO IN INDIA

  • 2. WHY CRYPTOCURRENCY IS SO POPULAR ? Bitcoin or Cryptocurrency is a topic that has sparked our curiosity. Indeed, today many a people want to invest in cryptocurrency Bitcoin and with the rise of home-based stock trading via different mobile apps, many will be unable to resist the seduction of various cryptocurrencies. We heard that many elite communities in India have already invested in Bitcoin in order to expand their investment. https://www.youtube.com/watch?v=qQPz5SoYJgw
  • 3. RISK IN CRYPTO RISK IN BITCOIN CRYPTO SCAM COINS CRYPTO NEWS TODAY CRYPTO NEWS IN INDIA To buy bitcoin in India, one can use various mobile applications available online. Few days ago, one guy in one part of West Bengal was cheated up to Rs. 60,000 while using those applications to purchase Bitcoin. In this scenario, because there is no legal recourse, it is strongly recommended that you proceed by viewing, learning, and knowing before investing in Bitcoin or any other currencies. Very recently, Crypto scam to the tune of nearly Rs. 2800 cr. was heard in the forming evasion of tax where some Chinese people are involved. Even, one person has been arrested for using bitcoin in purchasing drugs. https://www.youtube.com/watch?v=-CDCwe9o_LI&t=88s
  • 4. RISK IN CRYPTO RISK IN BITCOIN The price of a bitcoin peaked around Rs. 42 lakhs in early May 2021, but dropped below Rs. 25 lakhs, a few days later after the publishing of news on the worldwide market. Now the question is, since Bitcoin is a digital currency or asset that does not follow the centralized currency system, so there is no government agency to oversee the fluctuations and mobility of Bitcoin or other cryptocurrencies and its outcome. https://www.soolegal.com/roar/crypto-news-india-is- cryptocurrency-legal-in-india-in-bengali--2
  • 5. INNOVATION OF BITCOIN – SATOSHI NAKAMOTO WHITE PAPER – SATOSHI NAKAMOTO IDENTITY If we go back a little bit, we can see that there was an economic recession all over the world from 2007 to 2009, and about the same time in 2009, a white-paper titled "Bitcoin: A Peer-to-Peer Electronic Cash System" was released on the bitcoin.org website. In the front page of such nine-page white paper written by Satoshi Nakamoto, he says Bitcoin is “A purely peer-to- peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.”
  • 6. Although this nine-page white paper is quite complex, Satoshi Nakamoto describes on the second page, “We define an electronic coin as a chain digital signature.” In the eighth page under heading “Conclusion”, he wrote “We have proposed a system for electronic transactions without relying on trust”.
  • 7. WHAT ARE CRYPTOCURRENCIES ? Remember that Bitcoin is the oldest and popular cryptocurrency system, and there are many more cryptocurrencies such as Dogecoin, Ethereum, Safe Moon coin and others. The cryptocurrency Bitcoin is not a Fiat currency, meaning it is not guaranteed at a price like gold. https://www.soolegal.com/roar/crypto-news-india-is- cryptocurrency-legal-in-india-
  • 8. As per RBI “Every banknote issued by Reserve Bank of India ……. unless withdrawn from circulation, shall be legal tender at any place in India in payment or on account for the amount expressed therein, and shall be guaranteed by the Central Government.” In conventional money, the Governor of the Reserve Bank of India guarantees the payment of equal sum, implying that there is always credibility, which Bitcoin or cryptocurrency will never have. https://bivas-chatterjee.medium.com/crypto-news-india-is- cryptocurrency-legal-in-india-supreme-court-on-cryptocurrency- in-india-a33c613bd55
  • 9. It is nothing but the proof of originality of some pictures, videos etc. written by the original owner which means the NFTs holder will have the original token. https://www.linkedin.com/pulse/crypto-news-india-cryptocurrency-legal-supreme-court-bivas-chatterjee/ Another digital asset which has recently become very famous is NFTs (i.e. non- fungible tokens)
  • 10. BITCOIN PRICE PREDICTION – BITCOIN PRICE FACTOR : Bitcoin, however, is the most widely used by investors. The Bitcoin is algorithmed in such a way that after the year 2140, no bitcoins can be mined further and that is why the crypto supporters advocate the fact that Cryptocurrency will not experience inflation like any legal tender money. As per the supporters of Bitcoin, it is safe and legal tender money is fossilized concept. But there are lot of concerns and one of them, since Bitcoin is not governed by any country's laws or supervised by any authority, it is impossible to know how the price of Bitcoin swings or who rises or decreases it. https://www.facebook.com/AwarenessAgainstCyberCrimes/vi deos/288105123040327
  • 11. Now in many cases we see that the price of GPUs i.e. graphical processors unit that are used in mining is skyrocketing. In this case, even huge electrical energy is also big issue.
  • 12. HOW THE LAW ENFORCEMENT AGENCY INVESTIGATE BITCOIN ? - WHY HACKERS USE BITCOIN ? Another aspect to consider is how the investigating officials can gather money trail when the crime has been committed using Bitcoin. In a nutshell, Bitcoin incorporates features that use encryption and digital signatures to protect the Bitcoin network's security, thus it is a part of the virtual world but has nothing to do with its physical existence and due to which it cannot be traced out. We have seen the use of bitcoin in many heinous types of crimes starting from narcotic drugs sale to large-scale ransomware.
  • 13. IS IT LEGAL TO INVEST IN BITCOIN OR CRYPTOCURRENCY IN INDIA ? This is a question that occurred in many people's minds nowadays. Let's take a look at the scenario. After the invention of Bitcoin, several countries around the world outright banned it; nevertheless, certain countries have a liberal outlook. There are even countries who have come with laws defining Cryptocurrencies, namely – Japan, Malta, Canada, Bahamas, Estonia, Latvia, Israel, Mexico, Austria, Czech Republic, Germany, Luxembourg, Slovakia, European Union and United Kingdom.
  • 14. On 24th December, 2013 – The Reserve Bank of India has issued a warning to users, holders, and traders of "Decentralised Digital Currency" or "Virtual Currency," such as Bitcoins, regarding the potential financial, operational, legal, customer protection, and security risks they are taking. WHETHER BITCOIN IS LEGAL IN INDIA ? - RBI CIRCULAR ON CRYPTOCURRENCY - RBI ON CRYPTOCURRENCY https://anchor.fm/cyber-chatterjee/episodes/Is-Cryptocurrency-Legal-In- India--Crypto-News-in-India-In-Bengali-e132q9e
  • 15. On 1st February, 2017 – The Reserve Bank of India has not granted any business or firm a licence or authorization to operate or deal in Bitcoin or any other virtual currency. As a result, anyone interacting with Virtual Currencies, whether as a user, holder, investor, trader, or otherwise, does so at their own risk. https://www.cyberchatterjee.com/2021/06/cryptocurre ncy-news-india-is.html
  • 16. On 5th April, 2018 – Consumer protection, market integrity, and money laundering are among the problems raised by virtual currencies, often known as crypto-currency and crypto assets.
  • 17. On the 6th April, 2018 - The RBI's regulated firms like Commercial Payment Banks, Small Finance Banks, NBFCs are prohibited from dealing in virtual currencies or providing services to assist anyone in dealing with or settling virtual currencies. Regulated entities that already supply such services must end the arrangement within three months of this circular's publication.
  • 18. HON’BLE SUPREME COURT OF INDIA ON CRYPTOCURRENCY In the year 2018 – a case was then filed in the Hon’ble Supreme Court challenging the Circular known as Internet and Mobile Association of India v. Reserve Bank of India, Writ Petition (Civil) No. 528 of 2018, in which the Hon’ble Supreme Court of India, on 20th March, 2020, set aside the aforementioned RBI circular dated 6th April, 2018. But the Hon’ble Court keep open the observation of press release dated 5th April, 2018 by the RBI.
  • 19. On 31st May, 2021 – The Reserve bank of India informed that, in view of the order of the Hon’ble Supreme Court of India, the prohibition circular dated 6th April, 2018 over Virtual Currencies is no longer effective from the date of the judgement passed by Hon’ble Supreme Court. Banks, as well as other entities may, however, continue to carry out customer due diligence processes in line with regulations governing standards.
  • 20. In the present circumstances, to put it another way, Bitcoin and other cryptocurrencies are neither illegal nor legal in India at the present, therefore individuals who trade in Bitcoin do so at their own risk. In any event, if your hard- earned money is wasted, no one will be held accountable. CAN WE INVEST IN BITCOIN ? Or CAN WE TRADE IN BITCOIN IN INDIA ? Many people believe that Bitcoin is a digital asset and some people are of the view that it is nothing but Ponzi scheme to cheat the common people. We also heard that to control the activities of crypto currencies, the Government has come with a Bill. We are eagerly waiting for the law on Cryptocurrency.
  • 21. THANKS FOR PAYING ATTENTION TO MR. BIVAS CHATTERJEE Special P.P. Cyber Crime and Electronics Evidence related cases GOVERNMENT OF WEST BENGAL