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This post explores how different states in the United States have recognised blockchain and related technologies in their laws. Introduction We are well past the stage of countries pondering whether to integrate blockchain and related technologies into their laws. Many countries have; and most of those who have not are exploring the best ways toRead more

Should we start worrying about news of a ‘cabinet note’ proposing a crypto ban in India? What is a cabinet note? How soon will this cabinet note turn into a law? Can the ban be introduced as a money bill or in the upcoming monsoon session of the Parliament? A. Introduction: In November 2017, anRead more

Central banks across the world have started exploring Central Bank Digital Currency (“CBDC”). In a recent survey by the Bank of International Settlements[1], 80% of the 66 banks surveyed were engaged in research and pilot projects related to CBDC, including Canada,[2] USA[3] and Singapore[4]. In fact, as of May, 2020 China has started testing itsRead more

Anirudh Rastogi, Managing Partner at Ikigai Law was in conversation with Mriganka Pattnaik, CEO at Merkle Science on a webinar on 11 May 2020. Merkle, a Singapore-based company, is a pioneer in blockchain forensics and due diligence tools used by law enforcement agencies, regulators, crypto-exchanges, banks and funds to monitor and mitigate AML/CFT risk. TheRead more

Cryptocurrencies, or digital currencies secured using encryption techniques, have seized the imagination of a motley crew of anti-capitalists, financial experts and computer scientists. At the same time, cryptocurrencies operate outside the purview of central banks and have created a regulatory conundrum for governments. Regulation of this digital currency in Africa has been varied, with someRead more

On 6th April 2018, an RBI circular prohibited all entities regulated by the RBI from dealing in Virtual Currencies (“VCs”) or providing services for facilitating any person or entity in dealing with or settling VCs. Such services include maintaining accounts, registering, trading, settling, clearing, giving loans against virtual tokens, accepting them as collateral, opening accountsRead more

The nearly two-year long challenge by Indian cryptocurrency users, traders and exchanges, against the April 6, 2018 RBI circular[1], which cut off such users’ access to the formal economy has come to a close. On Tuesday, 28 January 2020 arguments in the writ petition challenging the circular before the Supreme Court were concluded and theRead more

This is the first in a series of blog posts on blockchain governance. This blog explains what blockchain governance is and lays the groundwork for deeper study. Let’s begin with an example to understand the need for governance structures for blockchain solutions. Suppose an electricity transmission company supplies electricity to your house in New Delhi,Read more

Vantage Point This is a compilation of selected posts on our LinkedIn page from October and November 2019. Alco-tech In a major setback for the alco-tech industry, the Karnataka High Court recently delivered a judgment deeming the online sale and delivery of alcohol illegal. A significant development for not just the liquor industry, it mayRead more

Ikigai Law’s Tanya Sadana explains the policies issues around Cryptocurrencies in India at MediaNama’s #NAMA Bootcamp on Cryptocurrencies held in New Delhi. Ikigai Law represents leading crypto-exchanges in the Supreme Court challenging the RBI directive banning banking access to these exchanges.