PM Narendra Modi has a big meeting on cryptocurrencies: Sources

Cryptocurrency: Prime Minister Narendra Modi has held a big meeting regarding cryptocurrency. The meeting raised concerns over over-promising & non-transparent advertising misleading the youth and decided to crack down on these advertisements.

Laundering and terror financing will not be allowed to be made

According to sources, it was decided in the meeting convened by PM Modi that unregulated crypto markets will not be allowed to become avenues for money laundering and terror financing. . This meeting regarding cryptocurrencies was very comprehensive, in which every aspect was discussed. RBI, Ministry of Finance, Ministry of Home Affairs have discussed this in the past with experts from across the country and the world regarding cryptocurrencies. Cryptocurrency examples and best practices around the world are also updated. After which the Prime Minister himself had called this meeting.

Discussion with experts stakeholders will continue

The government is aware of the fact that cryptocurrency is an evolving technology so the government will keep a close watch on it and take proactive steps. It was also agreed in the meeting that the steps taken by the government in this area would be progressive and visionary. The government will continue to actively engage with experts and other stakeholders. Since this issue is related to individual countries’ borders (cuts across individual countries’ borders), it was felt that global partnerships and collective strategies would also be discussed for this.

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