Crypto Currency Law

CryptoCurrency Legalities

What is CryptoCurrency?

A cryptocurrency is a digital or virtual currency designed to work as a medium of exchange. It uses cryptography to secure and verify transactions as well as to control the creation of new units of a particular cryptocurrency.

ICO Compliance, KYC/AML, Token Agreement and Jurisdiction Guidance

Smart Contracts

What is a smart contract?

Thee use of ‘smart’ in smart contracts refers to the fact that some element of the smart contract is automatic and self-executing in accordance with pre-defined conditions.

Smart contracts written as software programs on distributed ledgers would mean that the contracts, once agreed upon, cannot easily be modified. However, real-world contracts can be modified as long as the parties in the contract agree.

Contract Basics

For a contract to be valid, legal systems will impose certain requirements. There are four key elements that must (usually) be satisfied:

One of the contracting parties must make an offer to contract and the other(s) must accept that offer;
There must be ‘consideration’ for the offer, this being some form of value that must be exchanged;
The parties must have an intention to form legal relations;
There must be certainty as to terms of the contract.

Bitcoin Scams / Phishing

What is Bitcoin?

Bitcoin is a cryptocurrency, or a digital currency, that uses rules of cryptography for regulation and generation of units of currency. Bitcoin falls under the scope of cryptocurrency and was the first and most valuable among them. It is commonly called a decentralised digital currency.

Bitcoin phishing attacks are considered the most dangerous for users, especially those still foreign to the ways of Bitcoin transactions.

The phishing emails used a classic phishing strategy, a bogus alert of a suspicious sign-in attempt. To make sure that no Bitcoins are stolen, a password reset is recommended with a link to do that at the end of the message.

  • Ethereum Scams
  • Virtual Currency related cases
  • Taxation Issues

Leave a comment

Our Office Address

Koregaon Park Annex, Pune

Our Phone Numbers

+91 87110 06622

Our Office Hours

Monday - Saturday - 10:00 - 18:00

Recent News

Recent Posts

Newsletter

Get latest updates and offers.

Netlawgic Legal © All rights reserved.

Disclaimer

The Bar Council of India does not permit the solicitation of work and advertising by legal practitioners and advocates. By accessing the Netlawgic Legal Services LLP website (our website), the user acknowledges that:

  • The user wishes to gain more information about us for his/her information and use. He/She also acknowledges that there has been no attempt by us to advertise or solicit work.
  • Any information obtained or downloaded by the user from our website does not lead to the creation of the client-attorney relationship between the Firm and the user.
  • None of the information contained in our website amounts to any form of legal opinion or legal advice.
  • Our website uses cookies to improve your user experience. By using our site, you agree to our use of cookies. To find out more, please see our Privacy Policy.
  • All information contained in our website is the intellectual property of the Firm.