- Great meeting chaired by Prime Minister Modi on cryptocurrencies
- Concerns expressed about use in money laundering and terrorist financing
Prime Minister Narendra Modi chaired a meeting on cryptocurrency issues on Saturday. Government sources said that it was emphasized at the meeting that attempts to mislead young people through non-transparent ads and making false promises about cryptocurrencies should be stopped.
The meeting came after the joint consultation process of the Reserve Bank, the Ministry of Finance and the Ministry of the Interior, in which the ministries consulted experts from various countries and around the world on cryptocurrencies.
At the meeting, it was decided that the government would continue to hold discussions with experts and stakeholders on cryptocurrencies. It was also discussed at the meeting that the floating cryptocurrency market will not be allowed to become a weapon of money laundering and terrorist financing.
According to the sources, it was also agreed at the meeting that the government will have to actively engage with experts and stakeholders to develop the necessary framework for the cryptocurrency market. In this meeting, decisions and modalities regarding cryptocurrencies around the world were also discussed. The meeting said that the unregulated crypto market cannot be allowed to turn black money into white and finance terrorist activities.
The government will continue discussions with expert-stakeholders
The government believes that cryptocurrency is a constantly evolving technology. Therefore, the necessary steps will be taken to monitor it closely. At the meeting it was agreed that whatever measures the government takes on this issue, they will be progressive and taking into account the future. On this matter, the government will continue to interact with experts and other interested parties. Because this matter is beyond the borders of countries, a global partnership and common strategy will also be established.