Know your rights before investing in digital assets3 min read . Updated: 11 Aug 2022, 09:13 AM IST
- While there is no law which governs cryptocurrencies, an investor is not left without any redressal at all.
To understand the rights that are afforded to you when you are dealing with, or transacting in, cryptocurrencies, you need to first understand how this ecosystem works. Coming down to the basics, cryptocurrencies are an unregulated asset, typically exchanged or transacted on cryptocurrency exchange platforms. These platforms provide investment options, akin to features available for the conventional share trading setup that investors are familiar with. Cryptocurrencies and non-fungible tokens (NFTs), among other virtual digital assets (VDAs), are typically stored on digital wallets. These wallets could be linked to a particular exchange or be offered by any other service provider, which is neither an exchange itself, nor is the underlying technology on which the VDA is based upon.