Tag: Cryptocurrency

Protection of Non-Fungible Tokens in the United States

Introduction Since the advent of the Internet more than 20 years ago, society has benefited from an online network centred on communication, data, and information. A number of independent virtual worlds have also emerged, mostly on social media and in video games like Fortnite and TikTok. The metaverse promises interconnected virtual worlds that can be … Continue reading Protection of Non-Fungible Tokens in the United States

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Taxing of Digital Assets As Per Budget 2022

INTRODUCTION The creator of Bitcoin, the first cryptocurrency to enter the market in 2009, went under the nickname Satoshi Nakamoto. Following that, a number of cryptocurrencies were introduced, with Bitcoin Cash, Ripple (XRP), Litecoin, and other well-known coins among the most widely used ones. As of January 2022, there are reportedly more than 8,000 cryptocurrencies. … Continue reading Taxing of Digital Assets As Per Budget 2022

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NFT’S And Indian Law

What are Non-Fungible Tokens (NFT) NFT (Non-Fungible Token) are a digital assets that can be bought and sold online, usually with cryptocuurency. Understood as cryptographic assets, NFTs are usually a part of blockchains with a unique identification code and metadata that can be distinguished from one another. This is different from fungible tokens like cryptocurrencies … Continue reading NFT’S And Indian Law

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Stand Of Indian Government On Protection Ipr For Virtual Digital Assets

The phrase “virtual digital assets” is used in the Finance Bill to refer to both cryptocurrencies and NFTs. The criteria for identifying bitcoins or similar apps as virtual digital assets were purposefully kept broad. Aside from the distinctions in their characteristics, cryptocurrencies serve as payment systems in which units are transferable and have some value. … Continue reading Stand Of Indian Government On Protection Ipr For Virtual Digital Assets

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Revisiting The Concept Of Consideration Un-der Indian Law Vis-A-Vis Smart Contracts

Over the years, the nature of contract has undergone a significant change, i.e., from conventional written contracts to digital smart contracts. Previously, contracts used to be in a written form duly signed by the parties and in exchange of tangible consideration. However, with increasing global trade and technological development, conventional contracts are being replaced by … Continue reading Revisiting The Concept Of Consideration Un-der Indian Law Vis-A-Vis Smart Contracts

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Digital Currency Taxation Proposals – Features And Way Forward

Introduction On February 1st, 2022, during her budget speech[1], India’s Finance Minister made a huge announcement which is somewhat considered as a setback for the crypto industry. She announced that any income derived from the transfer of digital assets including cryptocurrencies, shall be taxable at a rate of 30% in addition to TDS on payments … Continue reading Digital Currency Taxation Proposals – Features And Way Forward

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The Development of NFTs through the Legal Perspective

Due to its growing price and increasing presence in creative works such as art, tweets, songs, memes, photographs, other digital media, or a virtual representation of, Non-Fungible Tokens (hence, NFTs) have become a popular issue over the last couple of months. NFTs are a cryptographically created receipt of ownership of a certain thing or entity. … Continue reading The Development of NFTs through the Legal Perspective

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The Legal Dilemma of Cryptocurrency in India

Introduction Cryptocurrency, also known as virtual or digital currency, is based on blockchain technology and has become a global phenomenon known to the majority of the people in the world. Through the medium of internet, the financial transactions are intended to take place strictly in terms of cryptographical functions. The cryptocurrencies can be transferred from … Continue reading The Legal Dilemma of Cryptocurrency in India

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Smart Contract In The Indian Crucible

Smart Contracts- First Impressions Few words have caused as much bewilderment in the Indian setup as “blockchain” and “smart contracts” have. Much excitement has been generated by the coverage of cryptocurrencies in mainstream media, and the general aspiration towards digital transactions. But, the lack of understanding of the workings of the systems has stalled the … Continue reading Smart Contract In The Indian Crucible

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Initial Coin Offering (ICO) and its Intellectual Property (IP) Interface

With growing importance and widespread adoption of Cryptocurrencies such as Bitcoin, Litecoin, Ethereum, Ripple among many others, Initial Coin Offerings (ICO) have become very popular over the last few years. In brief, an ICO is an unregulated means by which funds are raised for a new cryptocurrency venture or even by a technology company that … Continue reading Initial Coin Offering (ICO) and its Intellectual Property (IP) Interface

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