India Business Law Journal: Cryptocurrencies unchained?

Since the Supreme Court overturned India’s ban on cryptocurrencies, trading volumes have increased exponentially and home-grown crypto startups have blossomed. But the government has yet to establish a regulatory regime, and reports of another ban and the launch of an official government coin are spooking investors. In this special report, co-published with Cyril Amarchand Mangaldas and L&L Partners, legal experts assess the status of cryptos in India and the prospects for effective regulation.

To their credit, popular local crypto ex-changes have put in place KYC norms mirroring that of traditional brokerage firms. However, there is precious little in place in terms of consumer grievance redressal.