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Fin Tech

Regulatory Framework for ease of Digital Payments

Digital payments are need of the hour. With advancement of technology, the regulations in this sector have been developing as a step by step process. There have been some key legal developments in this space focusing on regulatory sandbox for fintech, regulations of payment intermediaries by the RBI, regulations for prepaid payment instruments by the RBI among others.

Watch now this interesting video on LawWiser on “Regulatory framework for ease of digital payments” with Ugen Bhutia, Legal Head, SBI Card. Our host Sania Husaini in conversation with Mr Bhutia explores the framework for digital payments.

They discuss the development of this sector and important regulations that have played key role in its development. They also focus on regulations for payment intermediaries by RBI. Lastly, he also shares the changes that are required for further development of this sector. Watch this now !

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Understanding Cryptocurrency – in conversation

Bitcoins/cryptocurrency no matter how interesting investment in them may be, it still has legalisation issues in India and many countries.

Watch Shashank Garg , Partner , Advani & Co. share the background on the introduction of cryptocurrency, quickly explains various aspects on its legalisation , the trends, issues in investment security and implementation of laws relating to cryptocurrency.

 

Watch it exclusively on #lawWiser.

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UNDERSTANDING THE CRYPTOCURRENCYIntroduction

 

If you’ve already begun your journey to learning about Cryptocurrency, the first step is to understand the two stages of the journey.

When people learn about Cryptocurrency, they usually start with stage one and work their way up.

This article provides an intro to the two stages that are involved when a person is studying Cryptocurrency.

 

Details About CryptoCurrency

 

The first stage is known as the Forex market cycle. This stage is the length of time that a typical investor will hold their position.

During this stage, many investors who participate in the Forex market will only be focused on the short-term profit potential of particular currencies rather than the long-term potential for profit that could be gained by investing in Cryptocurrency itself.

For those investors who hold onto their positions for a longer period during the Forex market cycle, they may become frustrated by the inability to gain any long-term profits and begin to look at other opportunities.

At this point, some of these investors will begin to educate themselves on the basics of investing in Cryptocurrency to open themselves up to potential long-term profit.

Some will even attempt to use analytical skills to determine if there may be a correlation between the stock market sentiment and the price increases and decreases of specific Cryptocurrency pairs.

During the second stage of learning about Cryptocurrency, an individual investor will begin to determine which Cryptocurrencies they may be interested in trading. At this point, the investor will have chosen which currency pairs they would like to trade.

On the flip side of the sentiment, we are currently in the “no investment” stage of understanding the Cryptocurrency market when the market is completely driven by sentiment.

What are the changes expected in the new cryptocurrency bill?

The cryptocurrency bill is still waiting in the cabinet. However experts from different spheres believe that bill must have to classify the standard qualifications of the crypto.

When can we expect Cryptocurrency to be legalized in all the countries?

In countries like India and China, the authorities are more likely to pave the path to CBDC’s and not existing cryptocurrencies, as there is no legal backing.

What would be the best way to implement the cryptocurrency laws as there is no precedent on its regulation?

Firstly, the government will consult its stakeholders as we are still in the drafting stage of the bill.

Secondly, the government should do a detailed SWOT analysis to understand the implication of introducing the law.

Some Important Measures

While investors may not be investing in the top 10 or even top 20 of Cryptocurrections right now, they are certainly getting involved in some sentiment-driven investment.

From here, we study the trends and volatility that are associated with the various domestic currency pairs. Trends typically occur over a longer period, but there are instances when the trend can happen much quicker.

Volatility is most commonly associated with larger values, such as the GFL and USD, but this is not always true. Watch crypto frauds to know more

In addition, there are many other important indicators for you to learn about, including those provided by the Cryptocurrency Research Society.

Cryptocurrency trading is a great way to make money from home if you properly analyze it. Once you have learned the basics of the process, you will never stop wondering what might happen next!

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Quick Guide on UPI Framework and Data Privacy

UPI or the Unified Payments Interface has more than 100 Mn active users in India.

As the popularity of UPI has skyrocketed in the past couple of years, LawWiser had a conversation with Atul Juvle, General Counsel, Compliance Officer, and Company Secretary, Schindler India Pvt Ltd, to understand the UPI framework and discuss implications of data privacy.

In this video we explore,

What is UPI?

What is the regulatory framework to control & monitor UPI?

What are the implications of data privacy in the UPI system?

and provide, Suggestions to UPI users.

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