Keeping up with the times: India’s proposed digital law
Taking a step towards laying the groundwork for a digitally advanced India, the Ministry of Information and Technology (“MeitY”), on 9th March 2023, released a presentation on the proposed Digital India Act, 2023 (“DIA”).
LAW GOVERNING VIRTUAL DIGITAL ASSETS – INDIA GUIDE, 2022
The popularity of digital currency and virtual digital assets are on the rise in India. As per the United Nations Conference on Trade and Development’s report in 2022, India ranked 7th on the list of countries ranked as per digital currency adoption with 7.3% of India’s population owning digital currency in 2021. However, the regulations …
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THE NEW DIGITAL LENDING REGULATIONS-DECODING THE WAY FORWARD
The Reserve Bank of India (“RBI”) which regulates inter alia credit systems and markets in India has been considering the regulatory ecosystem around ‘digital lending ’ (“Digital Lending”) for some time now. It had constituted a Working Group on ‘digital lending including lending through online platforms and mobile apps’ led by one of its executive …
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Cryptocurrency in India: One Step Forward, Two Steps Back
Any recognized currency used around the world is defined as a “fiat currency” since such currencies are backed by a fixed commodity and are issued by the government. However, changing this is cryptocurrency. Cryptocurrency is not backed against a commodity or issued by the government and does not exist physically.
A Brief Update on the ASCI’s Guidelines for Advertising of Virtual Digital Assets in India
The Advertising Standards Council of India (“ASCI”), the advertising industry’s self-governing body recently issued ‘Guidelines for the advertising of Virtual Digital Assets and linked services’ (“Guidelines”), a first of their kind in India. The Guidelines came into effect on April 1, 2022 and are applicable to all new advertisements on virtual digital assets released or …
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