India's Union Budget of 2022 mentioned the terminology "Virtual Digital Assets" (VDAs). VDAs are a superset for all computerized resources being executed on the blockchain, for example cryptos, non-fungible tokens (NFTs), or other virtual asset. Both cryptocurrencies and NFTs are
The Lok Sabha, through its Bulletin dated 23 November 2021, has listed ‘The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021’ among 26 other items of legislation that will taken up for consideration in the parliament, in its winter
Introduction Contravention is a breach or non-compliance of the provisions of Foreign Exchange Management Act (“Act”), 1999, and the rules, regulations, notifications, orders or circulars or directions made thereunder. The Reserve Bank of India (“RBI”) has been empowered by the
In view of the evolving start-up ecosystem in the country, and with the objective of making the Innovators Growth Platform (IGP) more accessible and attractive for easier listing by start-ups and provide faster liquidity and exit options to the Investors
1. Introduction The Advertising Standard Council of India (“ASCI”) via press release dated November 24, 2020 has issued Guidelines for Online Gaming for Real Money Winnings (“Guidelines”) which have become effective from December 15,2020 onwards. Pursuant to this, the Ministry
1. Introduction 1.1 The National Institution for Transforming India (“NITI Aayog”), in August 2020, had released a draft framework on Data Empowerment and Protection Architecture (“DEPA/Draft Framework”). DEPA is aimed at empowering people to have a seamless and secure access
Self regulated organizations for payment system operators 10 nov2020 from Novojuris Introduction With the massive growth witnessed in India, in the digital payment ecosystem, there has arisen a need for having a framework for regulation for digital payments.
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