Due to the rapid growth of the cryptocurrency market, the Indian government started sending tax notices to tens of thousands of its citizens working in digital assets. It is noted that in just 17 months the Indian investors made transactions worth more than 3.5 billion U.S. dollars.
Experts in the field of intellectual property players in the real estate market, and jewelers are among those who invest in bitcoin and other virtual currencies, told Reuters in the tax office after collecting the data of the nine exchange offices in Mumbai, Delhi, Bangalore and Pune.
Tax Department of India has asked of people involved in bitcoin and other virtual currencies, such as the "Ethereum", to pay tax on capital gains.
The Indian government has repeatedly warned investors about the dangers of the cryptocurrency market, comparing the digital currency with a "Ponzi scheme", but it didn't help. According to some, in India every month cryptocurrency decide to purchase 200 thousand beginners.
Due to the rapid growth of the cryptocurrency market, the Indian government started sending tax notices to tens of thousands of its citizens working in digital assets. It is noted that in just 17 months the Indian investors made transactions worth more than 3.5 billion U.S. dollars.
Experts in the field of intellectual property players in the real estate market, and jewelers are among those who invest in bitcoin and other virtual currencies, told Reuters in the tax office after collecting the data of the nine exchange offices in Mumbai, Delhi, Bangalore and Pune.
Tax Department of India has asked of people involved in bitcoin and other virtual currencies, such as the "Ethereum", to pay tax on capital gains.
The Indian government has repeatedly warned investors about the dangers of the cryptocurrency market, comparing the digital currency with a "Ponzi scheme", but it didn't help. According to some, in India every month cryptocurrency decide to purchase 200 thousand beginners.
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