An overview of Crypto currency’s effects on the Indian economy

Abstract

Cryptocurrency is a unique concept in decentralized virtual currency. It has shown to be a fresh, gold-like investment choice in India. Although the government of India has not established any regulating agencies or regulations dealing to the trading and transactions of cryptocurrency, it does restrict the buying and selling of virtual currencies such as Bitcoins, Litecoins, Ethereal, Ripple, Monero, Neo, etc. The usage of cryptocurrency in Indian marketplaces is subject to several limitations. Understanding cryptocurrencies and their impact on the Indian economy is the aim of this study. The report also examines the present situation and prospects for future expansion of the cryptocurrency business in India.