Cryptocurrencies are at the forefront of financial innovation, and involve an increasing number of industry players, start-ups and businesses. Many central banks have warned against the use of these products, especially by non-professional investors. Few jurisdictions recognise them as currencies, but, equally, few jurisdictions have banned their use as financial assets. By Partners Anu Tiwari and Anindita Bhowmik, Consultant Dipti Bedi, Principal Associate Designate Ritu Sajnani and Associate Shubhi Maheshwari.