New Delhi: Prime Minister Narendra Modi on Saturday chaired a high-level meeting on cryptocurrency and related issues, reported news agencies. Concerns over unregulated crypto markets turning into avenues for money laundering and terror financing were discussed at the key meeting today, government sources said. The need to stop the attempts to mislead the youth through “over-promising and non-transparent advertising” was also talked about at the meet, they said.
“Today’s meeting chaired by PM Narendra Modi on the way forward for cryptocurrency and related issues was a very comprehensive one. It was strongly felt that attempts to mislead the youth through over promising and non-transparent advertising be stopped,” the government sources were quoted as saying by news agency ANI.
“It was also discussed that unregulated crypto markets cannot be let to become avenues for money laundering and terror financing. Government is cognizant of the fact that this is an evolving technology, hence the government will keep a close watch and take proactive steps,” the sources said.
“There was consensus also that the steps taken in the field of cryptocurrency and related issues by the government will be progressive and forward-looking. Government will continue to pro-actively engage with the experts and other stakeholders,” they added. Since the issue cuts across individual countries’ borders, it was felt that it will also require global partnerships and collective strategies, they further said.
(Based on agency inputs)