Cryptocurrencies- Are we ready for bitcoins?

The legal status of Cryptocurrencies (known as bitcoin) varies substantially from country to country and is still undefined and evolving. Although a large majority of countries do not make the usage of bitcoin illegal, its status as money (or as a commodity) varies, with differing regulatory implications. Some countries have explicitly allowed its use and trade; others have banned or restricted it. Likewise, various government agencies, departments and courts have classified bitcoins differently.

Refer to my article in the Treasurer: Cryptocurrencies

Dee Singh Kothari is a senior partner in Kothari Partners

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