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RBI cautions users of virtual currency, again - Livemint

Poll setback in Gujarat's cotton belt worries Maharashtra BJP

The Reserve Bank of India (RBI) on 1 February said that it has not given any licence or authorization to any entity or company to operate virtual currency schemes or deal with bitcoin or any virtual currency. "Any user, holder, investor or trader dealing with virtual currencies is doing it at their own risk," said RBI in a release on...

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Date: 2017-12-20 02:06:29

The risks and thrill of investing in bitcoins in India ...

While there are multiple risks, bitcoin has also given some traders the thrill of earning returns of 1600% in the past year

Last Published: Thu, Dec 07 2017. 08 44 AM IST

Mobis Philipose

The bitcoin bubble may well get much larger until there is clarity on its use as a currency.

On Tuesday, the Reserve Bank of India (RBI) issued its third warning about trading in virtual currencies such as...

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Date: 2018-01-30 20:25:30

Govt warns against bitcoin trading, equates virtual ...

Ministry of finance cautions against risks of investing in virtual currencies such as bitcoin which lack government fiat, compares them with ponzi schemes

Last Published: Fri, Dec 29 2017. 11 34 PM IST

Asit Ranjan Mishra

The ministry of finance move follows a crackdown by South Korean government on trading of bitcoins which led to a 8% drop in its value on Thursday. Currently, the value of...

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Date: 2018-01-30 17:05:33

Related topics : virtual currency exchange bitcoin / virtual currency like bitcoin / digital virtual currency and bitcoins / virtual currency bitcoin / virtual currency trading india

Income tax department surveys bitcoin exchanges - Livemint

The income tax department's survey on bitcoin exchanges was undertaken to secure information about transactions, parties involved and bank accounts used

Last Published: Thu, Dec 14 2017. 01 18 AM IST

Gireesh Chandra Prasad Vivina Vishwanathan Remya Nair

The survey was part of the authority's broader efforts to profile and scrutinize assessees who pose a risk of tax evasion.Photo: AFP


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Date: 2018-01-11 22:13:41

Related topics : virtual currency exchange bitcoin / virtual currency and the financial system the case of bitcoin / bitcoin exchange money laundering / bitcoin price exchange / bitcoin exchange market cap

Bitcoin regulations in India - Livemint

India launches high performance computer system Mihir

Last week, income tax department surveyed the major bitcoin exchanges in India. The survey reports said, this was done to collect information about transactions and check whether there was a risk of tax evasion. This week, it was reported that the income tax department is set to issue notices to about 5,00,000 high net worth individuals...

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Date: 2018-01-30 19:24:59

Related topics : virtual currency exchange bitcoin / bitcoin india exchange / virtual global currency / virtual currency trading india / virtual currency in india

What will pop the bitcoin bubble? - Livemint

That raises the prospect of bitcoin becoming a casualty of its own success should cryptocurrencies gain sufficient mainstream adoption and pose a threat to the government's ability to collect taxes or the efficacy of monetary policy. Even so, the recent history on restrictions is not encouraging for bitcoin bears: the digital currency was able to shake off what was tantamount to an attempted ban...

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Date: 2017-12-30 08:05:52

Related topics : bitcoin digital currency exchange / digital currency like bitcoin / bitcoin digital currency price / bitcoin digital currency / bitcoin currency exchange history

Indian IT firms eye technology behind Bitcoin for ...

Japan's economy could get a boost in 2018 from bitcoin

Bengaluru: Software services providers Tata Consultancy Services Ltd ( TCS ), Infosys Ltd and Cognizant Technology Solutions Corp. have boosted investment in so-called blockchain technology and started to look at ways to build applications around it.

Blockchain is essentially an electronic system which is currently being used by crypto...

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Date: 2017-12-30 09:41:13

Related topics : bitcoin technology blockchain / bitcoin blockchain explorer / using bitcoin for currency exchange