One cryptocurrency enthusiast is broadcasting a conviction that February 1st will see crypto legalised in India. Up to this point, official statements on digital currencies have been vague, with the Indian government discouraging investment in crypto and warning investors of the high risks involved.

The source, Redditor Mikeross14, suggests that there are Indian citizens with plenty of funds to invest who are interested in making cryptocurrency investments, but were put off by the threat of a ban. However, the good news is that India\'s richest man (believed to be Akash Ambani) has apparently begun to assemble a team to initiate his own coin project, known as JioCoin.

If that were true, the writer suggested that the good relations enjoyed by Ambani (a trusted businessman) with the government, would prove that there were no official plans for banning cryptocurrencies. However, Reliance Jio, the Indian telecommunications giant, deny any relationship with the proposed coin offering and claim it\'s a fake.

The main gist of the announcement relates to the potential legalisation of cryptocurrency on February 1st by the Indian Government. All changes to Finance and Taxation matters are made only once a year during India\'s Union Budget, which takes place annually on February 1st. News sources expect the Government to give clarity on cryptocurrencies at this time.