Bitcoin mining is like any other business where you have to invest capital and labour to generate returns, he said.
He said Ulips still continue to be a tax efficient asset class for small investors.
"We can now help the government in formulating the regulation. This is something that we have seen in other countries also," he said.
According to the EPF rules, for buying a house, flat or under construction property, you can maximum withdraw up to 90% of the accumulated balance in one's EPF account, subject to the cost of asset to be acquired.
experts believe bitcoin may hit Rs 1 crore