The CCI, in collaboration with EY, has published a discussion paper on blockchain and its legal ramifications. “Given the decentralized nature of blockchains, there may not be any identifiable host, or an operator and the nodes may be spread across the globe with transactions occurring between the nodes located in different jurisdictions. Therefore, in case of any legal, policy or regulatory issue, it is difficult to understand which jurisdiction’s policies and regulations may apply,” the paper notes.

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