Reliance Jio in a clarification has said they haven’t established any app named JioCoin. The telecom manufacturer has also said that it might take legal action against those who solicit to make trades under their name.
In a statement published by Reliance Jio, it stated: “Any such programs utilizing the JioCoin title are fake and people are advised to refrain from dealing with some of them” Moreover, no associates or affiliates of the firm are connected with the JioCoin app.
Recently, news reports about Jio’s investment in cryptocurrency were floating around on the internet. Some publications even pointed out that even the JioCoin launch was stated to take place in 2018.
Cryptocurrency in the past few months has witnessed a surge, especially with bitcoin rallying high from the electronic currency industry. However, it hasn’t been approved by the apex bodies of this Indian government such as the Reserve Bank of India.
Bitcoin, Ethereum, were among the few cryptocurrencies that became quite popular in the electronic currency industry.