Published Paper Details:

The newfound world of virtual currencies is gaining popularity among individuals and government of various nations & new industry has established around these virtual currencies, businessmen, exchanges and investors who are increasingly dealing in them. In the present scenario, these cryptocurrencies especially bitcoins are getting catchline. Everyone is investing in it to get the more returns and to made their money in millions. It enhances the transparency of the digital transactions and cuts down the time and cost of each transactions. The virtual platform has provided a new technology- based way to go about business. It has allowed many buyers and institutions to collaborate at global level for trade but on the other hand, the use of these cryptocurrencies creates a safety controversy. The nature of cryptocurrency is digital and clone, it can be easily hacked and it involves security threats. The another problem faced by the many people is the variation and fluctuations in the value of the currency that is not known to anybody as it is not certain. Anything that fluctuates makes it ineffective to use. These currencies do not have any intrinsic value or any physical presence and are traded on a common platform which does not have any central control and regulatory system. Today, bit coin is the most prominent crypto currency, reason being it is widely embraced and used. The more acceptability the currency has the better it is When it comes to bit coin, a country like India cannot be overlooked it is a country with a huge population where oligarchs are continuously seeking for safe and secure alternatives to invest their enormous wealth and citizens are looking for ways to save taxes. This study highlights how the government is controlling and governing Cryptocurrencies and how it is affecting the country's economy. This study also shows that why some countries ban these Cryptocurrency. It is building inquisitiveness to others whether it is legal to invest in bitcoins or it is just a bubble? Data are collected from secondary sources mostly particularly from journals, published reports. This paper reviews the regulatory mechanism of crypto currency and its role in uplifting the economy of the nation.