Tag: crypto currency

Govt mulling levy of I-T, GST on cryptos; Bill in Winter Session

Cryptos are likely to attract both income tax and GST. A comprehensive Bill on crypto will detail the taxation. The Bill is expected to be introduced in the Winter Session of Parliament, starting later this month. Meanwhile, the Standing Committee on Finance will initiate detailed discussions on crypto-assets at its November 15 meeting. A top […]

Cryptocurrencies rebound 10-fold since last yr, despite tough steps from China, India

Cryptocurrencies have rebounded with a total market value of $2.2 trillion in late September, despite tough restrictions imposed by countries like China and India, according to a report by DBS Group Research. This is a ten-fold increase since the beginning of last year. The launch of several digital asset exchanges, rollout of innovative wallets, changes in mining technology […]

Cryptos may revolutionise micro payments, but we are not there yet, says Raghuram Rajan

Eminent economist and former RBI governor Raghuram Rajan has said cryptocurrencies are a speculative asset right now, and will remain so until there are developments, and regulations emerge. “Right now, cryptocurrencies are speculative assets. Will it stay that way? No. There will be developments. Some central banks are thinking of introducing their own cryptocurrency, backed by full faith and credit of […]

Crypto not currency; needs to be regulated as asset: ex-RBI deputy governor R Gandhi

Former RBI deputy governor R Gandhi on Tuesday made a case for treating and regulating crypto as a separate asset class with a view to enabling governments around the world to effectively deal with illegal activities associated with virtual currencies. After quite a lot of debate over the years, he said, people have fully understood […]

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