RECENT DEVELOPMENTS ON VIRTUAL CURRENCIES IN INDIA
Cryptocurrencies like Bitcoin have made an impact in the global financial sector as an alternate mode of payment even though they are not legal tender in any country in the world. While virtual currency is often looked at with suspicion due to lack of any central regulatory body, the concept of virtual currency per se and the underlying technology supporting the operating system of virtual currencies is something that has caught the attention of Governments. This article is a synopsis of recent developments in regulatory framework for virtual currency in India.