Ujjval Verma, BA.LLB (NMIMS School of Law, Navi Mumbai, Maharashtra)
ABSTRACT
In the last few years, the inception & growth of cryptocurrencies & blockchain technology have changed the concept of finance by opening up huge opportunities along with posing intricate legal questions. In India, these technologies are still new ages in regulations and policy frameworks, and therefore many companies face policy uncertainties. This article gives a detailed understanding of the operations of the crypto & blockchain sector in India under current legal changes and the policies of SEBI, RBI, and MCA involved.
Furthermore, the article presents MCA regulations and rules regarding the need to disclose possession and dealings in cryptocurrencies on the firm’s governance and financial reporting. Based on the context of ZebPay – one of the most important Indian cryptocurrency exchange platforms. Finally, reiterates the significance of companies in engaging the services with knowledge & preparedness for changes in governing legislation. Hence, success in this sector of cryptocurrency & blockchain will be driven by risks that include regulatory risks, where it will be important to balance this by following current laws while at the same time trying to predict future laws in this field.
Keywords: Cryptocurrency, Blockchain, Regulatory Landscape, SEBI, RBI, MCA, Compliance, India, Financial Regulations, etc.
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