Newsletter/Booklets 11th Jun 2024

Blockchain – Beyond Cryptocurrency: Various Regulatory Approaches

Authors

Stella Joseph Partner | Mumbai
Yash Desai Principal Associate | Mumbai
Hema Modi Associate | Mumbai

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Blockchain is an emerging technology which poses a number of unique questions to existing policy, legal, and regulatory frameworks. New applications under blockchain have often outpaced the ability for relevant regulation to keep up.

This booklet explores key attributes of blockchain technology that give rise to regulatory concerns and showcases use cases that demonstrate its vast potential beyond cryptocurrency. It also analyzes various regulatory approaches to blockchain, excluding cryptocurrency, adopted by jurisdictions worldwide. The diverse regulatory strategies highlight that blockchain’s decentralized nature does not render it ungovernable.

Additionally, the booklet examines the regulatory landscape for blockchains in India. Although India has yet to establish a comprehensive regulation governing the blockchain ecosystem, it is crucial that the current ambivalence or hostility toward cryptocurrencies does not influence policymakers or hinder the development of a coherent regulatory framework for blockchain technology.

Read the booklet here