India News | 'Stop Attempts to Mislead Youth Through Over-promising, Non-transparent Advertising': PM Modi Chairs Meeting on Cryptocurrency
Get latest articles and stories on India at LatestLY. Prime Minister Narendra Modi on Saturday chaired a comprehensive meeting on the way forward for cryptocurrency and related issues in which it was decided that unregulated crypto cannot be allowed for money laundering and terror financing, according to government sources.
New Delhi [India], November 13 (ANI): Prime Minister Narendra Modi on Saturday chaired a comprehensive meeting on the way forward for cryptocurrency and related issues in which it was decided that unregulated crypto cannot be allowed for money laundering and terror financing, according to government sources.
The meeting was held after a consultative process done by the Reserve Bank of India, the Finance Ministry, and the Ministry of Home Affairs (MHA) in which global and Indian experts were consulted and global examples and best practices studied.
Also Read | COVID-19 Treatment: Scientists Exploring Medicinal Mushrooms, Chinese Herbs to Treat Coronavirus.
According to sources the Government strongly feels that attempts to mislead the youth through over-promising and non-transparent advertising have to be stopped.
It was also discussed that unregulated crypto markets cannot be allowed to become avenues for money laundering and terror financing.
Also Read | Maharashtra: At Least 26 Maoists Killed in Encounter with Police in Gadchiroli.
Sources said that the government is cognizant of the fact that this is an evolving technology hence it will keep a close watch and take proactive steps.
There was consensus also that the steps taken in this field by the Government will be progressive and forward-looking. The government will continue to pro-actively engage with the experts and other stakeholders.
Since the issue cuts across individual countries' borders, it was felt that it will also require global partnerships and collective strategies. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)