Crypto-assets: Law and policy issues

Speaker: Jaideep Reddy

Abstract

This talk will focus on the policy and regulatory aspects around crypto-assets. There is no specific statute regulating crypto-asset intermediaries today, unlike, for instance, the securities market. The industry has been evolving through a process of self-regulation and interpretation of existing laws. Recently, a specific tax was introduced on virtual digital assets. Intermediaries were also called on to follow anti-money laundering reporting norms. In 2020, the Supreme Court invalidated a Reserve Bank of India circular denying banking access to crypto companies. The talk will discuss why it has been challenging to evolve a clear-cut regime and will explore the potential paths forward.

Bio

Mr Jaideep Reddy is a Counsel at Trilegal. He is a technology lawyer, qualified to practice in India and California, U.S.A., whose areas of practice include crypto and blockchain, payments, privacy and data, e-commerce, and gaming. Since 2016, he has developed a deep specialization in the law relating to crypto and blockchain technology. He has provided Indian law advice to nearly all the leading Indian and international crypto and blockchain platforms. He led his previous firm’s successful representation of the Internet and Mobile Association of India, the lead petitioner, in the landmark 2020 Supreme Court case which set aside a central bank restriction on virtual Currencies. He has written and been quoted extensively on crypto and blockchain technology and other emerging technology issues, and is a visiting faculty at the National Law School of India University, Bengaluru. He has been recognised as a Rising Star by Legal500 (Legalease) and as a notable practitioner by Chambers and Partners Fintech Guide.