What exactly is cryptocurrency and how it works?

A day after the budget, Finance Secretary TV Somnathan said the govt doesn't treat trading in crypto assets as illegal. Find out what is cryptocurrency and the challenges it is posing for the govt

Team TMS New Delhi

1 min read Last Updated : Feb 04 2022 | 8:45 AM IST

A day after the Budget 2022, Union Finance Secretary TV Somnathan told a business news channel that the government doesn’t treat trading in crypto assets as illegal. They will be treated in the same way as betting on horse racing or any other speculative transaction.

In first such case, Pune Police on Wednesday arrested a constable and six of his accomplices for allegedly kidnapping a trader and demanding Bitcoin ransom worth $40 million. Find out more about cryptocurrency, how it works and what challenges it is posing before the government today.

Watch video

Click here to connect with us on WhatsApp

Also Read

LIVE: This Budget brings more infra, more growth and more jobs, says PM

First Published: Feb 04 2022 | 8:45 AM IST

What exactly is cryptocurrency and how it works?

A day after the budget, Finance Secretary TV Somnathan said the govt doesn't treat trading in crypto assets as illegal. Find out what is cryptocurrency and the challenges it is posing for the govt

Also Read

LIVE: This Budget brings more infra, more growth and more jobs, says PM

TMS, Ep 100: Cryptocurrency tax, defence industry, markets, and green bonds

Crytocurrency tax: How will the Budget 2022 rules impact crypto investors?

What should you expect from the Budget session?

TMS Ep93: Netflix in India, PwC's Ranen Banerjee, markets, tax types