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Sorry Its supposed to be 5th its my mistake...
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Hahaha I am having a bad day at trying to get someone into a fight xD good spirit you got there!
I am reading the whole thread on 5th may 2017 no body said anything about government stand after april 20 discussion in this forum . Whats the future for bitcoin in india . there is no clarity on that
...but it would most probably come at a heavy price in the form of taxes. Strict RBI guidelines, FEMA act, strict KYC regulations, in short RBI would eventually take away the decentralization factor from BTC.
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Strict guidelines to be followed, will be done by exchanges. So I guess as customers we don't have much to worry about. BTC cannot be centralized, it would need great deal of attention, investment and planning which our officials evidently lack. China has tried it in the past but they were slammed head first.
Let's wait till 15May. Mostly Govt would ask for their cut and let the game continue.
Govt. is already getting their cut in form of VAT and will collect in form of GST and I believe a bill won't be drafted and passed just for collecting taxes on Bitcoin. They will just pull cryptos under their existing structure.