Many of the actions we perform in our everyday lives have been digitised and have become more adaptable and efficient as a result of the rapid growth of information and communication technologies. In order to make financial transactions like buying, selling, and trading easier, there has been a significant increase in online users. This has activated virtual currency concepts and produced a new economic phenomenon called cryptocurrency. In recent years, the use of virtual currency has extended throughout numerous systems. Most nations have not accepted virtual currency into their economic operations since it is not fully regulated and managed. This paper looks into the current legality of cryptocurrencies as well as the potential effects of upcoming legislative changes. The report also examines investment risks in both Bitcoin and Gold countries' responses to crypto currencies in terms of rules and legislation in order to generate a clear picture of its impact on various laws in India in order to govern it.

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Keywords: Bitcoin, Cryptocurrency, Challenges in Cryptocurrency, Government Future Move on Cryptocurrency, Uses of Cryptocurrency, Gold, Legality, RBI.