India foregoes the classical spending of Bitcoin!
Indian Finance Minister, Arun Jaitley, in his Union Budget 2018, said government will not make Bitcoin currency part of the digital payment system.
The Indian Government
- Cryptocurrencies are ‘not legal tender’ and investors should be cautious.
- Income tax department has sent show cause notice to Bitcoin owners.
- Cryptoexchanges ill-prepared to deposit 20% advance long-term capital gains tax on Bitcoin cryptocurrency earnings for you.
- Banks should help customers deposit Indian Rupees for Bitcoin disposals.