Q.3 In India, the need of the times is thoughtful legislation and rigorous regulation of cryptocurrencies and crypto-assets that are already here and being used. In the context of this, examine the practices or legislative models that have been adopted by the other countries to regulate the cryptocurrencies and how can India adopt them. (10 Marks)

Mentor’s comment- https://indianexpress.com/article/opinion/columns/india-legislation-digital-currency-7689252/ In the intro, mention how changes in technology have posed challenges for governments and lawmakers and courts. In the body, mention the practices adopted by countries such as Singapore, Switzerland and the US such as use of KYC, anti-money laundering and adherence to CFT etc. Conclude by mentioning that for India the … Continue reading Q.3 In India, the need of the times is thoughtful legislation and rigorous regulation of cryptocurrencies and crypto-assets that are already here and being used. In the context of this, examine the practices or legislative models that have been adopted by the other countries to regulate the cryptocurrencies and how can India adopt them. (10 Marks)