Jan 3, 2014 Income Tax department in India is looking at how they can impose tax on Bitcoin miners in India in the long run. However, they will not start this until RBI gives a clean chit to the coin which it had warned against recently. IRS officers had visited the office of Sathvik Vishwanath, CEO and founder of Coinmonk
A look at money creation under the gold standard, with Bitcoin mining as a replacement for gold mining, gives us a better idea of why Bitcoin behaves as it does. laws, as Bitcoin does not fulfill the registration requirements for money services and it is, “generally known that Bitcoin is used to promote illegal activities.