As the subject line says, India's largest company Reliance planning for its own virtual currency in the brand name of Jio Coin. Even though the company didn't release any official notification regarding it, but big business newspapers have reported this news on Last Friday (1/12).
The concern is, India has not yet made bitcoin or any crypto currency a legal tender. A committee is formed by the finance department and they are still debating on the potential outcome. But if Reliance launches its own virtual currency like Kodak is doing, do you think India will make bitcoin a legal tender? What kind of implication Jio Coin will have on Indian crypto community?
The news:
http://www.businesstoday.in/current/economy-politics/mukesh-ambani-reliance-cryptocurrency-jiocoin-virtual-currencies/story/267914.htmlShare your thoughts!
These are the rumors and reliance has denied the same, they have no intentions to launch the jio coin or any other cryptocurrency at this moment. Reliance is a reputed company and they will never go against the government's policies; ndian government has refused to accept cryptos as legal tender.