Jio will make you crorepati...know how!

National | Jan. 12, 2018, 2:46 p.m.

New Delhi, Jan 12: Reliance Jio is the latest to join the bandwagon of crypto currency, the latest craze in the financial world. If reports are any indication Mukesh Ambani's Jio is planning its own cryptocurrency called JioCoin. 

Accoring to reports Mukesh Ambani's elder son Akash will be leading the project. The primary goal set is to work on blockchain.

It is known to all that RBI has warned users against using cryptocurrencies. But with big company like Reliance considering launching its own cryptocurrency, it will be a different tale altogther. 


Bitcoins or cryptocurrencies are not a legal tender in the country and are not recognised as a medium of exchange, Arun Jaitley has clarified in Lok Sabha.  "Bitcoin does not have a legal tender in India. However, it has presence in both in the public domain and in the unorganised markets," Jaitley said in a written reply to the Lok Sabha. Jaitley calls Bitcoin unregulated digital money that is issued and normally controlled by its developers and used and accepted among the members of the virtual community. According to him, the virtual currencies (VCs) including Bitcoins do not have any underlying assets and their price is entirely speculative, which can expose the investors to heightened risk. "...VCs have not been authorised by the government or Reserve Bank of India (RBI) by way of licence nor it is recognised as a medium of exchange," the minister said.

News24Bureau with Agencies
 

Related news

Income Tax warning for you on Rs 2000

Jan. 12, 2018, 2:46 p.m.

Yogi's big heart.. Free CT scan in UP

Jan. 12, 2018, 2:46 p.m.

Rajiv Gandhi's killers will be freed?

Jan. 12, 2018, 2:46 p.m.

In Davos Modi blasts rich nations

Jan. 12, 2018, 2:46 p.m.

Zabardast! 1000 job vacancies for you

Jan. 12, 2018, 2:46 p.m.

Don’t miss out

News

Porn star makes Deepika sleepless

Jan. 12, 2018, 2:46 p.m.


Irrfan poses with Denman, Kelly

Jan. 12, 2018, 2:46 p.m.


Dakota Fanning doesn't touch her brows

Jan. 12, 2018, 2:46 p.m.