Open Access
Gaargi Tomar
- Student (Law) University of Petroleum and Energy Studies (UPES) Uttarakhand India
Abstract
The term cryptocurrency is itself gotten from the encryption methods which is utilized to secure the network of organization.It can be called as a system which allows for the secure payments online and which are dominated by the term of virtual “tokens”. An investor can purchase cryptocurrency through crypto exchange like coinbase, cashapp etc. The question arises that how cryptocurrency can make money, well since it permits for the secure payments online which are termed in terms of virtual tokens. Financial backer can bring in cash with cryptographic money either by mining bitcoin or basically selling their Bitcoin at a benefit. The paper additionally examine about the benefit and detriment of cryptographic forms of money as Fund move between two gatherings will get simple without the need of an outsider like credit/check cards or banks. Also it is cheaper alternative as compared to other online transactions but also at the same time taxation issue is one of the major cryptocurrencies issue, they can readily be used by hiding the property for tax evasion purpose It has no proper laws, no international recognized agencies, all country does not accept it and also it does not reveal identification and therefore it discourages people to invest black money. It may have a impact on real money.
Keywords: Cryptocurrency, bitcoin, ethereum, litecoin, advantage, disadvantage, Article 19(1)(g)
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National Journal of Cyber Security Law
| Volume | |
| Received | January 10, 2022 |
| Accepted | January 15, 2022 |
| Published | January 15, 2023 |