Attempts to mislead youth through cryptocurrency should be stopped: GOI

The government is assured that this is an evolving technology; hence the government will keep an eye and take proactive steps, the people said.

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Today, Prime Minister Narendra Modi hosted a critical meeting, discussing matters on cryptocurrency, and similar matters, news agency ANI stated, quoting unnamed government sources. The vital meeting arrives after Reserve Bank of India governor Shaktikanta Das raised importance on cryptocurrencies, advising investors on the plausible downfalls of the digital currency.

From a macroeconomic and financial security perspective, Das said on Wednesday that cryptocurrencies are a grave matter. The meeting was precise, conversations took place on blocking advertisements that overpromise and lure younger investors. The conference was also a result of a consultative manner as RBI, Finance Ministry, Home Ministry had done an extensive exercise on it and asked experts from across the country and worldwide.

Sources told ANI that unlimited crypto market issues were discussed during the meeting and that they cannot be let become avenues for money laundering and terror funding. The government is assured that this is an evolving technology; hence the government will keep an eye and take proactive steps, the people said.

During the meeting, there was also agreement that the measures exercised in cryptocurrency and similar concerns by the government will be open-minded and forward-looking. The government will proceed to engage with the specialists and other stakeholders pro-actively, sources said to ANI. Since the issue strikes across individual countries’ borders, it requires global partnerships and standard procedures.

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