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ARTICLE · 28 MARCH 2020

The Cryptocurrency Saga: Tracing The Developments In India

S.S. Rana & Co.
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Cryptocurrency can be understood as digital assets created to function as a mode exchange which uses strong cryptography to secure financial transactions.

IndiaTechnology
Vikrant Rana
Vikrant Rana
Isheta Srivastava
Isheta Srivastava
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Cryptocurrency can be understood as digital assets created to function as a mode exchange which uses strong cryptography to secure financial transactions. According to Fernando Angulo, Head of Communications at SEMrush, Cryptocurrency search growing fast across India. During one of his interviews he mentioned that 'The investment on cryptocurrency was the first place so they are searching, where to invest, what is the best cryptocurrency, how to get cryptocurrency to transform into rupees or how to get physical money about that?'.1 The April 2018 RBI circular banning the cryptocurrency in the Indian market created quite a stir in the market.

However, the recent judgement of the Hon'ble Supreme Court in the case of Internet and Mobile Association of India v Reserve Bank of India gave a new lease of life to cryptocurrency in India. The SC in its judgement quashing the ban imposed on cryptocurrency by the Reserve Bank of India held that 'the impugned Circular dated

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