Bitcoin was valued at an average price of 1,394 million yen ($12,562) in Japanese exchange houses at 3.20 p.m. (local time) on Wednesday, and 13,513 million won ($12,628) in South Korea, according to the CryptoCompare website.
While a repeated message was being given that such currencies were not legal tender, more detailed steps would be taken once the report of the committee is submitted, he said.
Bitcoins or such crypto-currencies are not legal tender and those indulging in such transactions are doing it at their own risk, Finance Minister Arun Jaitley said today.
Consumers need to be alert and extremely cautious as to avoid getting trapped in such Ponzi schemes, the Finance Ministry said in a statement.
At a press conference here, Pluto Exchange founder and Chief Executive Bharat Verma said his company is all set to launch the country's first app-based wallet that enables bitcoin transactions using a mobile number.
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
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