Tension grips Bitcoin holders in Vijayawada

DECCAN CHRONICLE.
Published Feb 13, 2018, 7:31 am IST
Updated Feb 13, 2018, 7:31 am IST
The finance ministry is going to recognise it as crypto asset, instead of crypto currency and will collect tax on these transactions.
Tension gripped Bitcoin currency holders in Vijayawada as SEBI is readying to release guidelines on bitcoin treating it as crypto asset, instead of crypto currency, due to which a tax may be collected on these transactions.
 Tension gripped Bitcoin currency holders in Vijayawada as SEBI is readying to release guidelines on bitcoin treating it as crypto asset, instead of crypto currency, due to which a tax may be collected on these transactions.

Vijayawada: Tension gripped Bitcoin currency holders in Vijayawada as SEBI is readying to release guidelines on bitcoin treating it as crypto asset, instead of crypto currency, due to which a tax may be collected on these transactions. At the same time, official recognition will come in India. How would it affect a person is interesting to know. Bitcoin is a new trend in the share market, particularly in the forex trading.

Now, there is no authorised permission to the trade of Bitcoin currency. Many stories have come in the media that bitcoin is a virtual digital currency, which is not viable and anytime it may crash out. S. Ranga Rao, Forex trade expert told DC “Bitcoin is a currency created by Satoshi of Japan in 2009. He floated it to face the US dollar domination and defeat it.  In foreign countires, there are many other coins like Bitcoin, called crypto currency in technical language”.

 

Without any publicity, only through networking of people it has spread among the people interested in share markets. There is a buzz that   many of the Indians have invested their amounts in Bitcoin, in the time of demonetisation, which the government cannot deal and cannot question as it was done through forex trading. In Vijayawada, many of those interested in share market invested heavily in bitcoin currency. The SEBI is going to bring some guidelines about this Bitcoin soon.

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