Indian Prime Minister advises not to ignore blockchain, meanwhile 100,000 tax forms sent to Bitcoin investors
The government of India is closely monitoring new technological advancements, as clearly witnessed from the recent message on the official Twitter of the country’s Prime Minister:
Projects aimed at the infrastructural improvement is one of the top concerns of India right now, and the blockchain is not an exclusion here. For example, recently the state has held a contest of blockchain-related projects with a wide range of topics.
With cryptocurrency the state is not as liberal: the government has repeatedly expressed its concerns over the amount of money laundering cases connected with this sphere and the Indian Citibank recently followed the example of American and British counterparts by blocking credit card payments for Bitcoin. They have also recently issued 100,000 tax warnings for those who invested in Bitcoin.
Everything indicates that the authorities of India have decided to stick with the “blockchain without crypto” approach, widely popular among traditional market investors and veteran lawmakers.
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