India’s Government Agencies Have doubt About Bitcoin operations

India’s Government Agencies Have doubt About Bitcoin operations

I think we are not still comfortable statement given by Sudarshan Sen, Executive Director at the Reserve Bank of India (RBI). Based on this statement, the Indian media reported that India’s income tax agency is concerned & strong doubts related to Black money , money laundering and illegal transactions. It seems There are serious issues with huge investments flowing into the form of  cryptocurrency. Stated by a senior tax department official. However , an Indian central bank official clarified to the press on September 13 that th Indian government agencies still feels daisy about bitcoin. Indian Officials Concerned With How btc Operates

Measures to be followed

What do you think about India’s officials stating about their doubts on cryptocurrency. There are concerns on the menthdology btc operates. Some unaccounted or black money could be flowing in the form of cryptocurrencies – stated by the source familiar with this matter. According to an Indian media agencies government agencies are in the country have concerns about illegal activities. Illegal activities could be tied to btc in India. An unnamed media agency stated that the SIT taskforce is currently working on a report about these concerns, and the final draft should be completed by the end of this month. “The Indian  economy is thriving and struggling with decentralized btc operations . In metropolitan towns like Delhi, Bengaluru and Mumbai, there are a large number of existing and upcoming bitcoin & crytocurrency talks. Actually that are running through the temperature controlled rooms 24 x 7 /365 days. Now Hereby explained by Unocoin. The company stated that Indian Bitcoin transactions have increased exponentially in huge ratios. By the end of 2016 -17 our country had over 500 bitcoin-accepting businessman. The huge number of our  domestic Indian bitcoin investors is increasing exponent at 2,500 a day claimed Unocoin comapany. Meanwhile Unocoin also said it does not know that if BTC will obtain legal status or not, it may be noted that btc are not required to banned in India. Now Indian residents and Bitcoin startups will have tobear with &  continue operating within the legal uncertainty until the government and the RBI come to a decision. India’s Government Agencies Still Have strong doubts & Concerns About Bitcoin. After the RBI director’s statements