Virtual currencies: Govt plans to bring a bill, Cryptos to be treated as commodity
Cryptocurrencies will be treated as an asset/commodity for all purposes, including taxation and as per user case — payments, investment or utility.
India aims to open finance to millions with user-data systemRegulators agreed to allow banks, pension funds, tax authorities, insurers and other finance firms to pool together customer information -- once the user consents -- to make transactions smoother. If the system works, firms will be able access large amounts of data within seconds to assess the creditworthiness of a small business, recommend a wealth management product for an individual, or tailor an insurance policy for a family.
https://ift.tt/3kORVh3
Post a Comment