The document discusses cryptocurrency as a digital asset used for exchange, emphasizing decentralized control and blockchain technology. It outlines varying legal statuses of cryptocurrency across countries, including regulations in Japan, the USA, and India, which is considering a trading ban. The document also highlights the rise in cryptocurrency user growth among young adults and the challenges faced, such as market risks and the need for regulatory frameworks.

1. Cryptocurrency- A way forward
Mohit Singla(20DM125)
Nidhi Gupta(20DM138)
Ojoshwi Bhattacharjee(20DM146)

2. What is Cryptocurrency?
• It’s a digital asset designed to work as a medium of exchange.
• Individual coin ownership records are stored in a ledger in a
form of computerized database using strong Cryptography
• Does not exist in physical form.
• It typically use decentralized control.
• It works through distributed ledger technology, typically
blockchain.

3. .
CountriestakeonCryptocurrency
Legal Restricted Illegal
Japan
USA
Germany
Mexico
France
Singapore
Bolivia
Ecuador
Egypt
Morocco
Pakistan
Nepal
India
Colombia
Russia
Saudi Arabia
Iran
Indonesia
Vietnam

4. Japan U.S.A Germany
• Cryptocurrency exchange
businesses are regulated
by the Payment Services
Act.
• 23 Approved Crypto
Exchanges in total
• Crypto exchanges are
required to register with
the FSA.
• Businesses like DISH network,
Microsoft store, subway and
overstock.com allow payments in
bitcoin.
• The U.S. Department of FinCEN has
been issuing guidance on Bitcoin
since 2013
• IRS categorizes Bitcoin for taxation
purposes.
• BaFin qualifies
virtual currencies as
units of account.
• Used as a substitute
form of currency
but not considered
as legal tender.

5. Russia China Indonesia
• Legal status to digital
assets but prohibits use
for payments.
• Banks and exchanges can
become exchange
operators of digital
financial assets provided
that they register with
the central bank.
• Legal to trade and
hold.
• Illegal as payment
tool.
• Bitcoin is not a legal
tender
• Financial institution
are not allowed to
facilitate bitcoin
transaction.
• BAC responsible for
crypto regulation

6. Algeria
Morocco
Nepal
The reasons for banning cryptocurrency in these
countries are quite common:
• Lack of regulation
• Threat to traditional banking institutions
• Lack of understanding
• Vulnerable to hackers
• Market risk
• Issue od inheritance

7. Continents with the
most user growth in
the age group 18 to 24
46.31%
33.82%
60.28%
91.40%
151.95%
0.00%
20.00%
40.00%
60.00%
80.00%
100.00%
120.00%
140.00%
160.00%
Europe Asia Americas Africa Oceania
User growth in different Continents

8. India
Current Scenario
• Initial banking ban of cryptocurrency
in 2018
• Cryptocurrency exchange files a
lawsuit and wins on March 2020
against the ban
• Significant adoption since the
lockdown started in March 2020
• Indian Govt working on a law to ban
cryptocurrency trading
• Most banks are still skeptical of
providing services to crypto
companies and individuals dealing in
digital currencies

9. Cryptocurrency
exchange companies
need to maintain
ledgers and records
of transactions.
Using conventional
tax laws and
accounting
principles on crypto
assets.
Crypto exchange
companies need to
register with a
regulating body.
RBI may introduce
its own
cryptocurrencies in
order to get a
centralized control
over it.
.
Recommendations

10. Thank You! References:
• https://economictimes.indiatimes.com/news/e
conomy/policy/government-plans-to-introduce-
law-to-ban-cryptocurrency-
trading/articleshow/78132596.cms?from=mdr
• https://www.loc.gov/law/help/cryptocurrency/
world-survey.php
• https://news.bitcoin.com/countries-growth-
cryptocurrency-
coinmarketcap/#:~:text=The%20nine%20countr
ies%20with%20at,%2C%20and%20Pakistan%20
(81.79%25)