Quote from: botany on July 07, 2018, 06:32:16 PM

Quote from: killx on July 07, 2018, 05:35:31 PM

Quote from: snkiworld on July 06, 2018, 01:33:36 PM

Quote from: suchi2591 on July 06, 2018, 05:53:14 AM

Investors would only be able to do peer-to-peer (P2P) transactions with a fellow trader. One would only be able to transact in the form of exchange with any another cryptocurrency. Some exchanges WazirX and Koinex Loop are working on peer-to-peer model.

Thats good for now atleast they are doing something to continue trading cryptos

If in future, I convert my cryptocurrency to rupee by P2P transaction, how will I prove that it is legal money ( not black money or any money laundering ).
Maybe, crypto will grow x100 in 2 years. So I can have over a crore rupee in crypto. That may attract attention of authorities if I one day get a crore rupee in my account.

Did you get your coins more than a few years back? If you did and you haven't moved your coins, then you can argue (if required) that most of the money you earn by selling these coins is capital gains tax.

Capital gains tax applies on recognized asset class. Crypto is not yet a recognized asset class in India.