Vol. 6, Issue 5 (2020)
The rise of crptocurrency and the present scenario
Author(s): Nivethi Natarajan, Aayush Kumaran Natarajan
Abstract: Cryptocurrency is computerized cash. That implies there's no physical coin or bill — it's all on the web. You can move digital currency to somebody online without a go-between, similar to a bank. Bitcoin and Ether are notable digital currencies, yet new cryptographic forms of money being created. Individuals may utilize crypto currencies for fast installments and to stay away from exchange expenses. Crypto currencies utilize decentralized innovation to let clients make secure installments and store cash without the need to utilize their name or experience a bank. In a decentralized system like Bitcoin, every member needs to carry out this responsibility. The legal maxim 'expressum facit cessare tacitum', which means when there is express notice of specific things, at that point anything not referenced is rejected. This maxim has been perceived by Indian courts and was additionally depended upon by the Supreme Court in Shankara Rao Badam and Ors. v. State of Mysore and Anr. Thinking about the arrangements of the law, it tends to be sensibly inferred that 'virtual money' ought to be considered rejected from the meaning of cash. This present article is aiming to give the concept and the rise of the term “Cryptocurrency” and the present scenario in this era.