more-inBitcoin transactions, an emerging instrument of investment unregulated by any law, have come under the Income Tax Department scanner. On Wednesday, I-T officials started a survey of nine bitcoin traders/agencies in a nationwide operation. Sources in the I-T Department said the survey was being conducted on multiple locations of bitcoin traders in Bengaluru, Mumbai, Pune, New Delhi, Gurugram, Ghaziabad, and Hyderabad, where most of these traders are located. “Bitcoins are an emerging area of investment unregulated by any law. According to sources, investment in bitcoins has emerged as a “safe haven” since there is hardly any regulation.
Source: The Hindu December 13, 2017 07:17 UTC