Hello everyone,
One more surge on the crypto user of India as the government of India sent tax notices to the heavy crypto users who have been doing transaction from last 18 Months. Indian Government has already declared the crypto market as a ponzi scheme which pays high returns to its early investors. $3.5 Billion of crypto transaction has been done from Indian users in crypto market. Most of them are Jewellers, Tech StartUps and youngsters who have been looking to settle themselves as Entrepreneur.
Bitcoin in G20 Agenda
Crypto market is gaining increase in market with every passed second and that makes every established country to think about the growing problem. Apart from India, China,South Korea,USA,EU has already take the effective steps to control the crypto flow. The rise of crypto is downgrading the value of physical money in common people's mind. Common peoples also finding crypto world more easier and undetectable way of transaction as no tax is applicable on such currency by any government.
Second thing is that few of the crypto user has been trapped in frauds that has been running around internet to snatch off your crypto assets. To safeguard the common people from this fraud case ,government has been trying to make the people understand about the goods and the bads of crypto.
According to Reuters, France and Germany has tied up as a team to kick off this agenda...
“We will have a joint Franco-German analysis of the risks linked to bitcoin, regulation proposals and these will be submitted as a joint proposal to our G20 counterparts at the G20 summit in Argentina in March,” Le Maire told reporters.
India has confirmed that they will take part in this debate too, to setup the regulation and guidelines to control Bitcoin Craze.
According to Zebpay [ An official channel for crypto trading in India] more than 200,00 users have been registering and setting up the accounts to transact in crypto every month.