Crypto Currencies

Crypto Currencies or Virtual Currencies are type of unregulated digital money.

They are mainly peer-to-peer system, and transacted between users directly, without an intermediary.

These transactions are verified by network nodes and recorded in public distributed ledger called blockchain.

They are neither issued by central bank/public authority, nor is necessarily attached to fiat currency, but is used and accepted among the members of a specific virtual community.

They are being transferred, stored or traded electronically.

Government does not consider cryptocurrencies legal tender and it will take all measures to eliminate use of crypto assets in financing illegitimate activities or as part of payment system.

Earlier, Government had issued repeated warnings against digital currency investments, saying these were like “ponzi schemes” that offer unusually high returns to early investors.

The annual Conference is an initiative of the Working Group on Cryptocurrencies and Money Laundering established in 2016 by Interpol, Europol and the Basel Institute on Governance.

Aim: To strengthen knowledge, expertise and best practices for investigations into financial crimes and intelligence on virtual assets and cryptocurrencies.