Lakshmi Coin upcoming Government cryptocurrency
- Blog

Lakshmi Coin upcoming Cryptocurrency

Lakshmi of Cryptocurrency World Might Just Bless The Indian Sub-Continent Pretty Soon

Lakshmi Coin upcoming Government cryptocurrency Following the massive strides of cryptocurrency sphere, Indian Government is finally taking note of the same and is preparing to herald an indigenous virtual currency range in line with the Bitcoin architecture. According to a report published by Business Standard on Saturday, the state-run cryptocurrency has received the nomenclature of Lakshmi after the Hindu goddess of wealth and prosperity. Whether or not this cryptocurreny form receives the blessings of the divine Hindu goddess is something which time shall outlay.

A committee was set up by the Government to discuss about viable methods and after effects of launching India’s very own digital currency medium. The committee consists of topgun officers from Securities and Exchange Board of India (SEBI), RBI, the Central Board of Excise and Customs (CBEC), Income Tax Department and the Financial Intelligence Unit.
Sudarshan Sen, the executive chairman of Reserve Bank of India disclosed his lack of support towards Bitcoin stating that the Government does not recognise non-fiat cryptocurrency forms. RBI mentioned that it is looking for fiat cryptocurrencies but nor for privately issued cryptocurrencies such as Bitcoin. Fiat cryptocurrency means that cryptocurrency which is officially launched by the designated authority.

This has created a vacuum which can be filled only when the Indian policymakers come out with their own virtual currency form which will follow the legal route to be given the title of a fiat cryptocurrency. This new currency which is termed by many as the alternative to the traditional Indian rupee will require amendments in the ongoing Currency Act to proceed in its action path which in turn will increase the time lag of converting this cryptocurrency dream into a hard rocking reality.Whenver the decision is taken, the cryptocurrency will fall in the domain of Reserve Bank of India (RBI).

Lakshmi Coin upcoming Government cryptocurrency

Sudarshan Sen has been quoted as saying:
“Right now, we have a group of people who are looking at fiat cryptocurrencies. Something that is an alternative to the Indian rupee, so to speak. We are looking at that closely.”
Vaibhav Parikh, partner, Nishith Desai Associates, said:
“I won’t be surprised if the Government comes up with its own cryptocurrency because banks are trying blockchain as a technology and to make blockchain work it would need some cryptocurrency. Since it doesn’t trust Bitcoin it may come up with their own currency.”
Just when China imposed a ban on ICO , Dubai is planning to become the first Bitcoin powered nation by implementing the same in its financial architecture. Dubai has even planned to implement Blockchain Technology in it’s all functions by 2020.
However Indian lawmakers feel it is of paramount importance to provide this cryptocurrency form with a solid legal backing rather than going with the flow and accepting the digital craze with open arms to safeguard against momentary setbacks.

More trouble ahead

While the Laxmicoin founders are waiting to hear from the RBI, many people in the Indian digital currency ecosystem do not believe that they will get a positive response in the near future.
Venture capitalist Maninder Gulati is an active member of the Indian bitcoin community. He is also currently looking to invest in cryptocurrency projects. He says that the regulators in India will not warm up to the idea of digital currencies anytime soon.
Moreover, he says it is problematic that Laxmicoin is targeting to becoming the country’s representative digital currency:

Read more about Lakshmi Coin

Also Read:- Best Cryptocurrency to invest

Lakshmi Coin upcoming cryptocurrency

9 thoughts on “Lakshmi Coin upcoming Cryptocurrency

  1. Web-based mining makes it possible to earn much more for hashrate that is otherwise worth basically nothing. No special hardware needed! – You earn coins just for using the HealthyWormCoin Forum – Not based on post count, just leave the page open! More info: https://healthyworm.com/forum/index.php?topic=3.0 – Mining Dash is too hard now. Mining through the browser is much easier and makes your hashrate worth more than if you were mining Bitcoin with the same hash! Just make sure you are logged in to earn the rewards so they can be accounted to your username. No personal information is needed since you are not spending any money or sending any payments!

  2. I see your blog needs some fresh content. Writing manually takes a
    lot of time, but there is tool for this time consuming task, search for; Wrastain’s tools for content

  3. Web-based mining makes it possible to earn much more for hashrate that is otherwise worth basically nothing. No special hardware needed! – You earn coins just for using the HealthyWormCoin Forum – Not based on post count, just leave the page open! More info: https://healthyworm.com/forum/index.php?topic=3.0 – Mining Bitcoin is too hard now. Mining through the browser is much easier and makes your hashrate worth more than if you were mining Bitcoin with the same hash! Just make sure you are logged in to earn the rewards so they can be accounted to your username. No personal information is needed since you are not spending any money or sending any payments!

  4. I needed to draft you this little bit of word so as to thank you the moment again for these exceptional things you have documented in this article. It’s simply shockingly generous with people like you to convey publicly what some people could possibly have sold for an ebook to end up making some money on their own, principally given that you might well have tried it if you ever considered necessary. The solutions also acted as a great way to understand that other people online have the identical dream the same as my personal own to understand many more with respect to this problem. I’m sure there are numerous more fun times up front for those who read carefully your blog post.

  5. I have noticed you don’t monetize your page,
    don’t waste your traffic, you can earn additional
    cash every month because you’ve got high quality content.

    If you want to know how to make extra bucks, search for: Mrdalekjd methods for $$$

  6. Hello would you mind sharing which blog platform you’re working with? I’m looking to start my own blog soon but I’m having a tough time deciding to go with B2evolution.

  7. Wow! This blog looks just like my old one! It’s on a completely different subject but it has pretty much the same layout and design. Superb choice of colors!

  8. I think other web-site proprietors should take this site as an model, very clean and magnificent user genial style and design, as well as the content. You are an expert in this topic!

Leave a Reply

Your email address will not be published. Required fields are marked *