Yesterday on 16-01-25 Polygon twitted something on their twitter that shocks everyone in this world.Maybe Jio will make crypto more possible in india.

Developments from 2024 like (i) the Income Tax Appellate Tribunal of India ruling that cryptocurrencies shall be treated as capital assets and income earned from cryptocurrencies shall be treated as capital gains, (ii) SEBI proposing to establish the multi-regulator framework to regulate cryptocurrency in the country


The Polygon network is a "Layer 2" scaling solution built on top of the Ethereum blockchain, designed to address issues like high transaction fees and slow processing speeds by enabling faster and cheaper transactions while still leveraging the security of the Ethereum mainnet; essentially acting as a parallel blockchain that runs alongside Ethereum, allowing users to interact with decentralized applications (dApps) with significantly lower costs.

Polygon Labs twitted this on their x -"

Polygon Labs is joining forces with India's largest telecom company for its web3 debut.

@reliancejio will onboard 450+ million users by adding blockchain capabilities via Polygon PoS to select apps and services.

"

Reliance Jio Infocomm Limited (d/b/a Jio) is an Indian telecommunications company and a subsidary of Jio platforms, headquartered in Navi Mumbai. It operates a national LTE network with coverage across all 22 telecom circles. Jio offers 5G, 4G and 4G+ services all over India. Its 6G service is in the works.