Income Tax Department Cracks Down On Cryptocurrency Traders, Again

Income tax department issued notices to thousands of cryptocurrency users HIGHLIGHTS Cryptocurrency market believes that government is going a bit too far Recently, Japan & China cracked down against cryptocurrencies South Korea is considering shutting down its virtual currency exchanges From finance ministry to Reserve Bank of India (RBI) to income tax (I-T) authorities, almost every regulator of any significance is bent upon tightening the noose on cryptocurrency users (including bitcoins, ripple, ethereum and litecoin, among others) and traders. On Friday, the income tax department issued notices to the hundreds of…

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