By Abhishek Malhotra and Bagmisikha Puhan, TMT Law Practice
The Finance Bill, 2022 (as tabled during the Union Budget discussion of 2022-2023) marked a watershed moment in India’s journey towards regulating cryptocurrencies and fostering digital innovation and growth in the country.
By Anu Tiwari and Anindita Bhowmik, Cyril Amarchand Mangaldas
The Reserve Bank of India (RBI) has amended the Credit Information Companies Regulations, 2006 on 10 November 2021, through the Credit Information Companies (Amendment) Regulations, 2021.
By Anu Tiwari and Anindita Bhowmik, Cyril Amarchand Mangaldas
The rapid growth of the digital lending industry increased credit accessibility in India, but also brought concerns on unregulated entities, illegal digital lending applications and coercive recovery tactics
The Virtual Asset (Service Providers) Act, 2020 (VASP Act) as amended, provides a legislative framework for the conduct of virtual assets business in the Cayman Islands, and the registration and licensing of persons providing virtual asset services
By Anu Tiwari and Anindita Bhowmik, Cyril Amarchand Mangaldas
In accessing financial services or products, individuals are often required to share financial information stored with other entities. The lack of a centralised mechanism to access information makes the process time-consuming and often unreliable
By Anu Tiwari and Anindita Bhowmik, Cyril Amarchand Mangaldas
Blockchain, a form of digital ledger technology (DLT), is a linearly linked information-containing block secured by cryptography and shared between participants
Asian jurisdictions have been cautious in developing legal frameworks around virtual currencies, but the volatile market and relentless evolution of cryptos are pushing regulators to act
With the continued rapid growth of the financial technology sector, the government has been reforming its licensing regime to provide business opportunities while also protecting local interests
Governments across the region are being forced to clear the regulatory air on virtual currencies as they can no longer afford to ignore their popularity
Examining developments in cryptocurrency law around the region is like taking a litmus test to measure the flexibilty and depth of competency of these legal systems. Staying up to speed is crucial