Prime Minister Modi of India presides over cryptocurrency conference after negotiation with Reserve Bank of India and Ministry of Finance – Regulating Bitcoin News

According to reports, Indian Prime Minister Narendra Modi hosted a comprehensive conference on cryptocurrency and related issues in India. This meeting was the result of consultations between the Central Bank, the Reserve Bank of India (RBI), the Ministry of Finance and the Ministry of Interior.

PM Modi hosts a cryptocurrency conference

According to reports, Indian Prime Minister Narendra Modi (Narendra Modi) hosted a very comprehensive meeting on cryptocurrency and related matters on Saturday. ANI News quoted government sources as saying:

Today’s conference on the way forward for cryptocurrency and related issues hosted by PM Narendra Modi is a very comprehensive conference.

The publication added: “There is a strong belief that attempts to mislead young people through over-promising and opaque advertising should be stopped.”

This meeting “also serves as the RBI [the Reserve Bank of India]The Ministry of Finance and the Ministry of the Interior conducted detailed exercises on this and consulted experts from all over the country and around the world. “

In addition, the meeting discussed that the unregulated crypto market cannot “become a channel for money laundering and terrorist financing,” the news media said, adding that the government “recognizes that this is an evolving technology, so the government will pay close attention and take proactive measures. measure.”

The publication further elaborates:

It is also agreed that the steps taken by the government in the field of cryptocurrency and related issues will be gradual and forward-looking. The government will continue to actively engage with experts and other stakeholders.

On Monday, the Standing Committee on Finance of the Indian Parliament Have a meeting With representatives from the encryption industry. This is the first time that India has had a parliamentary discussion on the broad topic of crypto finance involving the industry.

“There is an understanding that cryptocurrency cannot be blocked, but it must be regulated… People agree that a regulatory mechanism should be established to regulate cryptocurrency,” the ANI publication details. “Members of the Standing Committee on Finance of Parliament now hope that government officials will appear before them and address their concerns.”

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