Somewhat brazen. Is there anything to indicate authorities have given the green light? I don't see anything. In before they get raided.
Give them a chance. I'm sure they understand the situation on the ground better than us.
Half-joking. But given recent events, it does seem brazen. I can't find anything from Indian authorities clarifying RBI's position. All I can find is some stuff about a presumably new organization called Bitcoins Alliance India retaining a law firm which has apparently advised Unocoin to go ahead. Seems dicey, could go either way. Just thought this might be accompanied by some clarity on legality. Doesn't seem so.