“Cryptocurrency could be financing terrorism,” warns FM Niramala Sitharaman

Nirmala Sitharaman, Union Finance Minister is on an official visit to the United States.

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The onset of cryptocurrency and its sudden boom is quite scary and we all know if a currency is digital it’s used for good and bad; more bad than good.

 

The same opinion is shared by Union Finance Minister Nirmala Sitharaman at the International Monetary Fund’s spring meetup. She said, “The cryptocurrency that is taking us all by a wave is actually a threat to us, it could be a perfect currency to fund terrorism. Money laundering could be routed through cryptocurrency.” She is on an official visit to the US.

 

 

 

The Managing Director of the IMF, Kristalina Georgieva hosted the seminar “Money at a Crossroad” and invited elite panelists of which Finance Minister Nirmala Sitharaman was one. Part of her day 1 was invested in attending this high-level seminar.

 

Nirmala Sitharaman’s official itinerary includes meeting the G20, IMF, World Bank, Financial Action Task Force, and a powerful event hosted at the think tank Atlantic Council based out of Washington DC, Sitharaman will also meet and greet students and scholars at the Stanford University.

 

Apart from these, she will also have various bilateral meetups with her foreign counterparts the likes of South Korea, Indonesia, South Africa, and Sri Lanka. She is also scheduled to meet with the president of the World Bank, David Malpass as per the Ministry of Finance spokesperson.