Explained | What is Cryptocurrency and Why Is There So Much Hype Around it?

For the past few months, the Centre has been dropping hints regarding its intent on regulating cryptocurrencies in India. Ahead of the government's plan to introduce the Cryptocurrency and Regulation of Official Digital Currency Bill 2021, seeking a ban on all but a few private cryptocurrencies, while allowing an official digital currency by RBI, Naimish Sanghi, CEO of CoinCrunch, a cryptocurrency news website, explains what is cryptocurrency, why is there a hype around it and how does it actually work.