Read the article “Some unanswered questions on cryptocurrency” authored by our Partner Gaurav Sahay, and Associate Partner Vinu Peter Immanuel published by LiveMint.
Given the recent buzz around cryptocurrency, it is important to understand the trend or flow of events that have occurred recently. On 6 April 2018, the Reserve Bank of India (RBI) issued a notification cautioning all users, holders, and traders of cryptocurrencies, about risks associated to dealing with unregulated virtual currencies. It stated that all transactions involving virtual currency/ tokens will not be supported by the banking system, and bank accounts would be withdrawn from persons transacting in virtual currency.
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