As the trading and investment in the new token is increasing new heights even as the authorities have red flagged the same, the Income tax department as per a Reuters has slapped notice on investors in crytpocurrency.
The trading activity in digital currency has hit a massive $3.5 billion. Earlier the authorities has notified the involvement of as many as 10 lakh active participants in cryptocurrency in India which accounts a sizable sum globally.
The report after a study on some of the big cryptocurrency exchanges in major cities including Mumbai, Delhi, Pune and Bengaluru provide for involvement of jewelers, real estate players and other tech savvy milennials.
It is expected that there will be an entry of as many as 2,00,000 participants in the new token month on month basis.
Read about India's govt stand on the new digital currency
In India, like another countries which are mulling over a once and for all ban of the cryptocurrency, we are unlikely to see a ban. In the week Raghuram Rajan insisted on the fact to provide a backbone to this new cryptocurrency.