Regulate bitcoin

Ban on trading is impossible to enforce

It is high time the regulatory authorities laid down a clear definition and tax norms for the new asset class of virtual currencies. Runaway appreciation in the values of bitcoin, ethereum, and other virtual currencies has turned these into popular speculative vehicles. In January, bitcoin was trading just below $1,000. Last Wednesday, it rocketed above $11,000 before settling at $10,500 on Friday after two of the world’s largest futures exchanges in the US gave the green light to list bitcoin futures, a significant step in allowing mainstream investors to buy and sell the cryptocurrency. This parabolic appreciation has made them