Crypto currency is new version of cybernetic currency and becoming a medium of exchange. It is a fresh way of investment tool in India. It uses internet for functioning. Crypto currency cannot be over created or mined than the roof limit. Crypto-currency is a digital currency and decentralized. It is neither owned nor controlled by any government or private organization. The study focuses on the Bitcoin, a variety of Crypto Currency which was invented in 2009 by an anonymous group Satoshi Nakamoto. The Bitcoin Value was US $ 47,901.75 and in INR Rs.36,32,943 in 25th August 2021. Bitcoin is becoming popular in India. People are simply investing. RBI is consistently warning the public against investment on crypto currencies. But now it issued the clarification that banks should not warn the public. The study discussed various benefits and drawbacks, economic consequences faced by Indian economy after its arrival into Indian market. The objectives of the study are: to study the concept of Crypto currency In India, to know the Price performance of Bitcoin in Indian Rupee both in terms of price and growth rate. To understand the present and future of crypto currencies in India and to study the economic consequences of crypto currency on Indian economy, India ia about to legalise the Bitcoin. RBI planned to adopt blockchain technology in banking. Crypto investors are increasing in India. The price and growth rate of Bitcoin in Indian Rupee is found volatile. The economic consequences in India are volatile in price, lack of value backing, unrealistic price fluctuations, work of dark web, threat to RBI, limit the Government functioning, disruption in money market, fear of break down, enhancement of wait time and open to attacks. It may expose to illegal activities, money laundering and terror funding purposes. Govt. of India and RBI has to play a prominent role, assuring the stability of value, ensuring the elasticity of the total supply of such money and taking care of the entire security of the system without fail. And also take proper steps to control and regulate these Crypto currency transactions in India. Every currency has pros and cons; India must adopt and regulate crypto currency with proper care, because people are already fascinated in investing in crypto currency – Bit coin in India. People, investors as well as traders and stakeholders should be very careful so that they should not be under inconvenience situations.
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Keywords: Crypto Currency, Bit Coin, Money Laundering, Money Market, Blockchain Technology.
