Cryptocurrency & Blockchain Technology

Best Blockchain & Cryptocurrency Lawyers In India

Ever since the emergence of blockchain technology (a decentralized, distributed ledger that records the provenance of a digital asset), the term ‘Cryptocurrency’ has come forth as a promising future prospect. Cryptocurrency is essentially a digital or virtual currency/asset-based on blockchain technology, that is secured by cryptography, to control the creation of additional coins, and to verify the transfer of coin ownership.

Until early 2023, there was uncertainty regarding operation of a business in this particular sector in India owing to absence of a specific legislation. However, a significant change occurred on March 7, 2023, when the Ministry of Finance issued a notification, classifying VDA service providers (which includes crypto service providers as well) as ‘reporting entities’ under the Prevention of Money Laundering Act, 2002 (PMLA). With this inclusion, all crypto service providers are under an obligation to register their entity with the FIU-Ind and observe compliance with the obligations under the Prevention of Money Laundering Act, 2002 as well as the PML (Maintenance of Records) Rules, 2005. Also, with the introduction (in 2022) of the taxation provisions on gains being made from crypto transactions, there was some level of comfort provided to businesses operating in this sector as regards legitimacy of their business activity.

What is the Role and Function of the FIU-IND

FIU-IND was established by the Government of India on November 18, 2004 and serves as the central agency responsible for handling suspicious financial transactions. Reporting to the Economic Intelligence Council (EIC) headed by the Ministry, FIU-IND plays a crucial role in coordinating and strengthening national and international efforts against money laundering and terrorism financing, thereby ensuring the nation’s economic security.

what will be the Consequences of Non- Compliance?

If a VDA service provider fails to register with FIU-IND as a reporting entity, it will be considered non-compliant with the PMLA. The FIU-Ind can exercise the following set of powers in case of non-compliance:

Issuance of a warning
Directions to comply with specific instructions
Mandating periodic compliance reports
Imposition of monetary penalties

In addition to this, the FIU-IND also has the authority to instruct the Ministry of Electronics and Information Technology (MeitY) to block non-compliant entities’ URLs and mobile applications. In January 2024, show cause notices were issued to nine offshore VDA service providers for alleged non-compliance with PMLA provisions, PML Rules, and FIU-IND guidelines.

Nexjuris is one of the leading law firms in India offering legal services in the domain of blockchain (and particularly cryptocurrency). They have gained vast experience in dealing with clients engaged in offering services involving usage of cryptocurrency and other digital assets. Our crypto legal advice is led by highly experienced cryptocurrency lawyers in India who bring in their unique depth of legal expertise to cater for the needs of our clients engaged in providing digital asset and/or cryptocurrency services. Our law firm caters to the needs of our clients from inception to the day-to-day compliances for ensuring successful and swift operations in this promising sector. Ahlawat and Associates has the best Blockchain & Cryptocurrency Lawyers headquartered in Delhi NCR serving clients PAN India including cities such as Bangalore, Mumbai, Chennai, Hyderabad, Chandigarh, Pune, Gurugram, Kolkata. The set of legal services offered by Ahlawat & Associates in the crypto sector includes:

Incorporation of the entity in India
Corporate Secretarial Compliances
Compliance with requirements under the PMLA, PMLR, KYC Directions and the FIU-Ind Directions
Compliance with requirements under the IT Act (and the various rules framed thereunder)
Compliance with guidelines in respect of advertisements of crypto products/services
Compliances with data protection laws in India
Trademark protection

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Our Focus Area

FIU-IND Registration

India has witnessed a gradual and consistent increase in entities offering services in the field of virtual digital assets (VDAs) for some years now

Experienced Team

NexJuris stands among the leading corporate law firms in India, driven by the belief that a firm is only as strong as its team. Guided by this principle, we have built a powerhouse of some of the best corporate lawyers headquartered in Delhi, while also collaborating with experienced legal professionals across India and globally. This strategic structure enables us to manage and execute even the most complex transactions seamlessly. Our unwavering commitment to the highest standards of professional ethics and client service has earned us a trusted reputation in the corporate legal landscape.

Industry Experience

With its headquarters in New Delhi, NexJuris has built a strong foundation that enables it to serve clients across India and internationally. Leveraging this strategic presence, our team of corporate law experts has played a significant role in advising government bodies on critical legal and policy matters. NexJuris is among the few law firms in India with deep expertise in the interpretation, formulation, and drafting of complex policy frameworks—positioning us as a trusted advisor in both public and private sectors.

Client-Centric Approach

At NexJuris, we follow an approach rooted in deep legal expertise, technical excellence, and a commitment to exceptional service delivery. Our team is dedicated to offering accurate, timely, and cost-effective legal solutions, all while upholding international standards of quality. What sets us apart is our collaborative mindset — we immerse ourselves in our clients’ businesses, treating their challenges as our own. We understand that every client has unique goals and concerns, and we tailor our strategies accordingly to help them succeed and move forward with confidence.

Cost-Efficient

We make sure that our fee structure and the legal costs involved are very transparent and predictable for our clients. We believe that client relationships are based on trust and a sense of common purpose and we never falter on our promise making us one of the best corporate law firms in India. Our priority has been to deliver the best legal & business solutions and our fee arrangements are tailored to the needs of the client, the client’s goals, and the nature of the matter.

Frequently Asked Questions

1. What does corporate commercial law mean?

Corporate and commercial legal practice includes a wide range of legal issues when it comes to drafting commercial contracts and agreements. It broadly entails all corporate legal work during the entire lifecycle of the company. This also includes M&A, transactional advisory along with a broad range of practice areas such as franchising, intellectual property and sometimes litigation.

2. What are the types of corporate laws?

Corporate law is the body of laws, rules, regulations and practices that govern the formation and operation of corporations. It’s the body of law that regulates legal entities that exist to conduct business.

3. What are the advantages of hiring a corporate lawyer?

You need a lawyer to help you set up your chart of accounts, review your numbers periodically, and prepare all of your necessary central, state and local tax returns.

4. Why choose Nexjuris as your corporate law firm?

Nexjuris commercial corporate practice has both the in-depth knowledge of business laws and corporate finance as well as the practical advantage of execution into effective compliance and regulatory agreements covering distribution agreements, labor, and employment, joint ventures, etc.