Bitcoin has had a stellar run this year, after recently scaling the $20,000 summit. It is now trading at $26,500 after having hit an all-time high of $28,000. Seeing this growth, the government too wants a piece of the action and is mulling over imposing 18% GST on Bitcoin trade. This move is a U-turn from the government’s previous stance where it had declared Bitcoin as being illegal. Imposing a tax on cryptocurrencies would legitimize all transactions and increase the acceptance and usage of cryptocurrencies.