Ask NewsBytes
Anonymous

Anonymous

Asked on 7 February, 2018

And will government pay for the losses in bitcoin?

NewsBytes

Answered by

NewsBytes

By 'paying for the losses', we suppose you want to adjust losses in bitcoin against income. As per reports, income from bitcoin would come under 'income from other sources'. Law states that loss from other sources can be adjusted against capital-gains. Technically, losses in bitcoin should be adjustable, but the government's stand that cryptocurrency is not legal makes it difficult to say with certainty.

Related Topics