The legislation’s impact on Crypto Currency in India

Abstract

The concept of crypto currency is a little hard to accept, but it is easy to use. It is considered difficult because it is entirely different from our conventional currencies. Crypto currency is a digital or virtual or internet currency that uses cryptography for security. Crypto currency has created unmatched changes in the financial market having both positive and negative contributions. This is a conceptual paper tries to study the different aspects of crypto currencies, starting with their history, types, its working, advantages and disadvantages, challenges and opportunities. This led to some countries banning it or making it illegal, while some others remained observant and the rest worked out ways to tax and regulate its operations. Due to the rapid development of information and communication technologies, many activities in our daily life have been merged online and they become more flexible and more effective. The use of virtual currency has become widespread in many different systems in recent years. This paper investigates the user's expectations of the future of crypto currency. It also explores the users' confidence of dealing with crypto currency in a time that using such virtual money is not fully controlled and regulated.