Illustration for representational purposes by Siddhant Jumde
There is a lurking fear among investors in cryptocurrency, the new buzzword on the investment front, that the Centre will introduce a bill in Parliament banning its trade. Cryptocurrency trading involves speculating on price movements via a CFD (contract for difference) trading account, or buying and selling the underlying coins via an exchange. CFD is a contract between two parties stipulating that the buyer will pay to the seller the difference between the current value of an asset and its value at the time the contract was agreed upon. There are also reports that India will introduce a digital currency in its place, backed by the Reserve Bank of India (RBI). But this could still be a long way off.