Bitcoin To Be Taxed Like Gold In India

By Rjain July 15, 2017 09:37

Bitcoin To Be Taxed Like Gold In India

India is tabling ideas on how to integrate Bitcoin into the country’s regulations and, with banning it being an unpopular option, it seems that a goods-and-services tax may be slapped on instead.

In recent months a legal framework has been discussed by Indian officials as to how best to integrate the booming digital currency into its structures. A taskforce has been working to determine the legality of things like Bitcoin under the law in India as there was once a thought to place a full blanket ban on the currency in the heavily populated nation.

Now, however, it is being reported that taxes are the probable outcome from this enquiry which will render the cryptocurrency legal, but also affect its growth as a decentralized alternative currency.

It seems likely that the regulatory regime that comes in to monitor Bitcoin and its affiliated digital currencies will fall under the Securities and Exchange Board of India (SEBI).

Read Full News at cointelegraph

By Rjain July 15, 2017 09:37
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