News and Events

The status of sports betting, whether it is a game of skill or a game of chance, has not been clarified by the Supreme Court of India or a high court of a state. The state of Sikkim took the initiative of legalising online sports betting within the state, with the promulgation of the Sikkim Online Gaming (Regulation) Act 2008. Under this Act, a licence for placing bets on sports games such as football, cricket, lawn tennis, chess, golf and horse racing can be issued. In Meghalaya, the sport o...

It's worrisome to see how quickly gambling issues have spread in today's fast-paced digital world. Individuals now have access to a variety of internet platforms and can play anonymously whenever and wherever they want, which was previously unthinkable.   The Constitution of India does offer a definition of Gambling. It says that gambling includes any activity or undertaking whose determination is controlled or influenced by chance or accident or any activity or undertaking wh...

In the ever revolving 21st century, Cryptocurrencies are the newest additions to the world of digital currency. Cryptocurrencies are digital assets that can be exchanged, traded and bought digitally. They don’t have an inherent corporeal presence and function on blockchains. A blockchain can be best described as a ledger which maintains the digital record of crypto transactions. They operate as a double-entry system. As the name suggests, each group of crypto transactions are conve...

A concept note on the Central Bank Digital Currency (CBDC) was released by the RBI in October 2022. A pilot version (Rupee- Retail) of the CBDC was launched by the Ministry in furtherance of developing digital currencies in the country using blockchain technology. In December of 2022, the Rupee-Retail was launched for the first time with a participating group of customers and merchants.  Additionally, eight banks have been identified by the RBI in pursuance of the project. A few not...

Fraudsters have come up with a new method to cheat people by impersonating as their senior officers and demanding gift cards worth thousands of rupees. The value of these gift cards ranges anywhere between Rs 5,000 and Rs 10,000 and the victims include even senior police officers.  ...

In Australia, the cryptocurrencies are legal and it is recognized as property. While in the case of crypto exchanges, it is legal and it must be registered with AUSTRAC. Since, both the cryptocurrencies and crypto exchanges are considered as legal in Australia, they country is in the progression of implementation of the regulations for cryptocurrency. During the declaration of cryptocurrency as legal in 2017, the Australian government specifically announced that Bitcoin and the coins with those ...