Tyagi further said Sebi would have to regulate Bitcoin if these get classified as a commodity and are traded as commodity derivatives.
Suspected black money being converted into white, post demonetisation, through bitcoins was also under the I-T’s scanner, officials said.
US Securities and Exchange Commission chairman Jay Clayton warned that trading and public offerings in cryptocurrencies may be in violation of federal law.
Depending on whether they are categorised as business income or capital gains, Bitcoin trading and proceeds from its divestment could attract 20 to 30 per cent tax.
Creation, trading or usage of virtual currencies as a medium for payment are not authorised by any central bank or monetary authority, the RBI said.
According to the Coindesk Bitcoin Price Index, the market cap for the virtual currency also reached a historic high of $168 billion.
Differing from the government’s view that the WannaCry ransomware attack has had a minimal impact on India and that there was nothing much to worry about, IT experts have warned users against the cyber-attack saying it is expected to rise rapidly in
New Delhi: Narcotics Control Bureau (NCB) have detected two syndicates facilitating drug-trafficking in India through the cryptic ‘darknet’, and the clandestine and unregulated currency Bitcoin. NCB, the chief law enforcement and intelligence agency
New Delhi: In a bid to remove the paper and money trail, hi-tech drug traffickers in India are using cryptic darknet and the clandestine and unregulated currency Bitcoin. This is the first instance of
New Delhi: The Bitcoin digital currency system is in danger of losing its credibility as an independent payment system because of the growing power of a group that runs some of the computers behind it. In
Los Angeles: Dorian Prentice Satoshi Nakamoto said Thursday that he is not the creator of bitcoin, adding further mystery to the story of how the world's most popular digital currency came to be.The denial came
LOS ANGELES: Who is bitcoin's real creator? The bitcoin community is reacting to that burning question with a collective ho-hum.Developers and bitcoin enthusiasts from Finland to Texas are downplaying the media frenzy that occurred Thursday
San Francisco: A bank specializing in bitcoins says it has closed after computer hackers robbed its digital currency.The closure of the Flexcoin bank comes just a week after the collapse of Mt. Gox, a major
TOKYO: The Tokyo bitcoin exchange that filed for bankruptcy protection blamed theft through hacking for its losses Monday, and said it was looking into a criminal complaint.In an announcement posted on the Mt. Gox exchange's
Tokyo: The Mt. Gox bitcoin exchange in Tokyo filed for bankruptcy protection Friday and its chief executive said 850,000 bitcoins, worth several hundred million dollars, are unaccounted for.The exchange's CEO Mark Karpeles appeared before Japanese
Tokyo: The sudden disappearance of one of the largest bitcoin exchanges only adds to the mystery and mistrust surrounding the virtual currency, which was just beginning to gain legitimacy beyond the technology enthusiasts and adventurous
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