"The central government in April, 2017 constituted an inter-disciplinary committee to examine the existing framework on cryptocurrency in India. Investigating agencies are still trying to figure out how to follow the trail of cryptocurrency. "The threat is huge as there is no regulation to monitor the market of the ever-increasing value of Bitcoin," Chatterjee said. Moreover, the value of cryptocurrencies have witnessed upheavals in the absence of controlling authorities," he argued.Moreover, in crimes involving cryptocurrency, evidence may rely on blockchain technology. "There is an urgent need to frame a joint panel or a group of committees with experts from various fields to ensure the legality and accountability of cryptocurrency," Chatterjee argued.

Source: Times of India January 07, 2018 18:11 UTC