With currencies like Bit coin setting new heights every day ,Indian government has decided to launch the desi crypto currency and that would be named as LUXMI. Indian government has set up a committee to discuss this proposal and what could be the output and inputs along with other aspects. This might require amendment in currency act.
Source: Snapshot
This announcement shows that the Indian government is not very happy with bitcoin as the outflow of Indian wealth is very high.
The other aspect to look at this could be that Indian government want to control the consumption of black money in near future by launching its own fiat currency.
There could be n number of reasons but one thing is for sure that soon crypto investors will have a golden Hen to trade on...
