After India announces taxation on virtual currencies, the Finance Minister of the country said today that the crypto bill is still undergoing consultation. However, she cleared that the new law cryptocurrencies are now legal because they are taxed like gambling wins. Later on, expressing his views on the state of cryptocurrencies, Financial secretary, Somanathan, later commented:
““Bitcoin, Ethereum or NFT will never become legal tender. Crypto assets are assets whose value will be determined between two people. You can buy gold, diamond, crypto, but that will have not have the value authorization by government,”
In another part of India, a local cap has been accused of kidnapping a crypto trader and demanding a ransom of about $40 million. The accused has been arrested by the police along with his seven co-conspirators.
Columbian tax authorities have started tightening the screw on crypto users that are avoiding tax. The DIAN ( (Dirección de Impuestos y Aduanas Nacionales de Colombia) has released a statement that it has initiated actions to control the taxpayers who carry out cryptocurrency operations.
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