Roy pointed out that while the concept of a Bitcoin reserve might offer strategic advantages, it falls short of solving the federal government’s ballooning debt problem, which has grown nearly exponentially since the 1980s.
RBI Governor Shaktikanta Das has expressed willingness to provide technical support to countries interested in setting unified international standards for cross-border payment systems. This aligns with India's efforts to promote interoperability and efficiency in global financial transactions.
Under the amendments, cryptocurrencies will be classified as property for tax purposes. Income generated from mining activities will be taxed based on the market value of the mined cryptocurrency at the time of receipt.
The notes, which mature on December 1, 2029, will not bear interest or accrete principal and will be convertible under specific conditions into cash, shares of MicroStrategy’s class A common stock, or a combination of both, at the company's discretion.
Kennedy’s Bitcoin advocacy spans years, focusing on the cryptocurrency’s decentralized, supply-capped nature as a safeguard against economic instability.
