PM Modi chairs high-level meeting on cryptocurrency, days after RBI alarm
New Delhi: Days after RBI Governors’ warning of digital currency, Prime Minister Narendra Modi chaired a crucial meeting on cryptocurrency and many related issues on Saturday.
The meeting comes days after RBI Governor Shaktikant Das sounded the alarm on cryptocurrency and warned investors of the potential pitfalls of digital currency.
According to reports, several issues were discussed during the meeting, including the multiplication of several cryptocurrencies and coins and preventing young people from falling into its trap.
Previously, the Home Office also conducted an extensive exercise on digital currency best practices and consulted experts on its regulation.
An overview of what was discussed during the meeting:
Many questions were brainstormed during the meeting. According to the sources, the points below were highlighted and discussed:
# It was strongly felt that attempts to mislead young people with overly promising and non-transparent advertisements should be stopped.
# It was also discussed that unregulated crypto markets cannot become avenues for money laundering and terrorist financing.
# The government realizes that this is an evolving technology, which is why the government will monitor closely and take proactive measures.
# There was also a consensus that the measures taken in this area by the government will be progressive and forward-looking.
# The government will continue to work proactively with experts and other stakeholders.
# As the problem transcends the borders of each country, it was felt that it will also require global partnerships and collective strategies.
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