2022, Vol. 5, Issue 2

author(s)
Sandeep Kumar Garg

abstract
This research paper delves into "Understanding the Legal and Ethical Challenges of Cryptocurrency Mining in India: An Empirical Investigation." The primary objective is to explore and identify the specific legal and ethical challenges associated with cryptocurrency mining in India, a topic that has received limited empirical attention despite its growing significance. The study employed a qualitative research methodology, utilizing semi-structured interviews with a diverse group of 30 stakeholders, including miners, legal experts, policymakers, and environmental activists. Data were collected across major Indian cities and analyzed using thematic analysis. Key findings reveal significant legal challenges, such as regulatory uncertainty and lack of legal clarity, which align with global concerns yet possess unique characteristics in the Indian context. Ethical challenges predominantly revolved around energy consumption and environmental impact, mirroring the global discourse but underscored by India's specific socio-economic and environmental realities. The study fills a critical gap in the literature by providing empirical evidence specific to cryptocurrency mining and its associated challenges in India. The implications of these findings are far-reaching. They suggest an urgent need for specific legislative reforms and ethical guidelines tailored to the cryptocurrency mining sector. The insights gained offer a foundation for future research and serve as a valuable guide for policymakers, industry stakeholders, and researchers, emphasizing the need for a balanced approach in addressing the complex legal and ethical challenges of cryptocurrency mining in India.