Legal Framework for Digital Currencies

Payment, clearing, and settlement services are undergoing revolutionary transformations by the advent of cryptocurrenciescryptocurrency(ies). Although these alternative modes of payment provide various advantages to users, however they entail anonymityanonymity and pseudonymity, since the transactions are performed by the exchangeexchange of tokens through a decentralized blockchainblockchain platform and involved parties are identified by a unique string of random numbers instead of personal information.