Cryptocurrency/ Cryptocurrency Regulations/ Tamilnadu Cryptocurrency/ Cryptocurrency regulations in TamilNadu/ Best law firm in Coimbatore/ Best advocates in Coimbatore/Best law service in Coimbatore/ Best legal consultation in Coimbatore/ Best legal services in Coimbatore/ Best lawyers in Coimbatore/ Online legal consultation. Tamil Nadu doesn't have its own cryptocurrency laws or regulations, yet. The central government's proposed cryptocurrency regulation bill is still under consideration in Parliament.The Supreme Court's lifting of the RBI ban in 2020 allows cryptocurrency exchanges to operate in India, including Tamil Nadu. Tamil Nadu might implement its own regulations in alignment with the central government's framework, once finalised. Tamil Nadu is likely to follow the central government's lead in regulating cryptocurrencies. The Tamil Nadu government has previously expressed concerns about potential crypto-related risks like money laundering and financial instability.In the latest decision by the central government regarding digital assets, cryptos or virtual asset business will now come under the ambit of PMLA, Prevention of Money Laundering Act 2002. A cryptocurrency is a form of virtual asset based on a network that is scattered across a huge number of computers. It is a decentralised form that allows cryptocurrency to exist outside the control of the central government or authorities Cryptocurrencies as a payment medium in India are not regulated by any central authority. There are no rules and regulations or any guidelines laid down for settling disputes while dealing with cryptocurrency. So, trading in cryptocurrency is done at investors’ risk. The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 was introduced in the Lok Sabha. The bill seeks to create a favourable framework for the creation of digital currency that will be issued by the Reserve Bank Of India (RBI). We at Saanvika Legal Associates offer various legal services such as Trust deeds, Financial law, Insurance law, and other laws including Environment, Consumer, Property, Banking, Tax, Cyber Constitutions, Labor, Civil, Criminal, Family, Property, registration, Getting docs, and so on. Also, you can consult all aspects related to Legal notice, documentation, Legal registration, Property organisation, forming companies, Family legal consultation, Civil and Criminal legal consultants, and Litigation of finance and property.