India aggressively pursues cryptocurrency holders for tax this week, say traditional media outlets that Financial Times and Quartz, despite the policy in place since December 2017.

In a repeated series of misinterpretations of the facts surrounding the treatment of cryptocurrency by the Indian government, several publications warn that 100,000 investors who "failed to pay taxes" received letters demanding what they owe. ]

This number "can rise to 500,000", Quartz adds.

India has been a center of interest for Bitcoin traders this month after a speech by Finance Minister Arun Jaitley. Volatility due to news sources wrongly announcing that the country would "ban" Bitcoin.

While local businesses such as exchanges have decried the titles as "FUD", the effect on the markets remains ned palpable

The question of the tax seems little different. Press Trust of India (PTI) originally announced its intention to target users of the stock market from 400,000 to 500,000 in December.

The 100,000 letters causing a storm this week appear to be the first steps in a pre-established plan, with no further development beyond the comments of the chairman of the Central Direct Tax Council Sushil Chandra

"We discovered that there is no clarity about the investments made by many people, means that they did not declare it correctly … we have informed all (general directors of income tax) throughout India. " Chandra confirmed on February 6.

The so-called" aggression "of the Regulators, according to PTI, affect more than wealthy individuals use trade – about 25% of the total base of users.