As we get more clarity with a definition of cryptocurrencies and digital assets, it might cause headaches to another burgeoning industry in India – online video games. Finance minister Nirmala Sitharaman’s announcement in the 2022 Union Budget of proposing a 30% tax on digital assets and cryptocurrencies has brought a flurry of reactions. Proponents ofRead more
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In this blog post, we discuss the key changes from the Budget which impact the cryptocurrency sector. The Indian Finance Minister announced the annual financial statement (Budget) for the financial year 2022-23 on February 1. The Budget introduced some important developments for the cryptocurrency sector. The changes announced largely revolve around income tax on earningsRead more
Crypto’s high returns have given bragging rights to cryptocurrency service providers, who leverage this in their advertisements. These adverts grab a lot of eyeballs – including those of the regulators. We discuss various regulatory approaches to crypto adverts. We all have a friend who tells us that a 1₹ investment in Bitcoin in 2010 wouldRead more
As the year ends and the holiday cheer begins, we bring a round-up of the discussion this year around crypto regulation in India. Despite expectations, the government has not introduced any regulations on cryptocurrency in the winter session of Parliament. This has left the crypto industry in a state of flux, with the lack ofRead more
NFTs are everywhere – from Amitabh Bachchan to the NBA. While India is deliberating a new law to regulate cryptocurrencies (and possibly NFTs), it is only fair to ask – one law to rule them all? NFTs have been at the centre of everyone’s attention ever since the much talked about sale of Beeple’s “EverydaysRead more
A starfish is an organism without a head. So is a DAO. We dive into the regulation of decentralised autonomous organisations, including the recently enacted DAO law in Wyoming. A starfish is an organism without a head. So is a DAO. We’re not saying a DAO is a starfish. Okay, we’ll begin again. A new law[i] came intoRead more
Last time, we gave you a good rundown of what you could expect from NFTs, as the fledgling tech vacillates between price speculation and progress. You’ve probably read enough about NFTs to know what they are – paintings, 3D images, videos, short clips, or just about anything that can have a digital identity. From our previousRead more
In a ground-breaking move, the UK has introduced new arbitration rules designed to resolve commercial disputes involving novel technologies like smart contracts, cryptoassets and distributed ledger technology. In this piece, we discuss some of the cutting edge features of the new rules and the importance of a dispute resolution mechanism for digital technologies. In a pioneering move,Read more
Nigeria has earned itself the title of Africa’s bitcoin nation. An unstable Naira contributes to the popularity of the cryptocurrency. But Nigeria’s central bank remains critical of bitcoin. Bitcoin, the leading cryptocurrency, has seen its value balloon by more than 100% year-to-date, soaring to an all-time high of more than USD 60,000. Nigerians, many of whom are battling poverty,Read more
We’re not going to talk about what NFTs are – there are enough and more by way of explainer pieces discussing the shiny new tokens, and drawing you into the blockchain world. And while most of these are gushing about the new gold mine for you to chase, sizing up investment opportunities, and sounding likeRead more