New Delhi, 18/11: Prime Minister Narendra Modi said that it is essential for democracies to work together and ensure that cryptocurrency or Bitcoin “doesn’t end up in the wrong hands”.
Delivering the keynote address at the Sydney Dialogue, PM Modi said, “It is essential for democracies to work together. They should also recognise national rights and promote trade, investment and the larger public good. Take cryptocurrency or Bitcoin for example. It is important that all democracies work together and ensure it doesn’t end up in the wrong hands”.
The remarks came as the Modi government is still considering a regulatory framework required to manage and oversee investments made by millions of Indians in the digital currency.
Last week, Modi chaired a meeting to discuss the future of cryptocurrencies amid concerns that unregulated crypto markets could become avenues for money laundering and terror financing, sources had told Reuters.