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It Should Not Be In The Wrong Hands, It May Destroy Youth ': PM Modi on Bitcoin at Sydney Dialogue



 

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Prime Minister Narendra Modi on Thursday said India's industrial industry and services were making major digital changes. Citing the example of bitcoin, the PM urged nations to work together on the issue of cryptocurrency and ensure that it "does not end up in the wrong hands that could harm our youth".

Last week, PM Modi chaired a high-level conference to discuss bitcoin related issues and raised their concerns about the unregulated crypto market in India.

"India's industries and services are undergoing major digital transformation using technology to transform resources and protect biodiversity," PM Modi said in a Sydney interview.

Last week, PM Modi chaired a high-level conference to discuss bitcoin-related issues and raised concerns about the unregulated crypto market in India and where it could lead.

Sources said the meeting was "very broad" and was the result of a consultative process as the RBI, the Department of Finance and the Interior Ministry did a great job. Experts from all over the country and the world, too, have been consulted.

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"It has also been argued that unregulated crypto markets cannot be allowed to become a means of money laundering and terrorist financing," sources said. The government is aware of the fact that this is an evolving technology so it will continue to monitor and take action. steps.

The Prime Minister's speech on the subject of technological development and change in India was preceded by remarks by Australian Prime Minister Scott Morrison. The day before the dialogue, Prime Minister Modi had tweeted, "At 9am tomorrow, November 18, he will be delivering the keynote address at the Sydney Dialogue. The forum focuses on new technologies and how they can be used to benefit our planet."

The discussion was aimed at bringing together political, business and government leaders to negotiate, generate new ideas, and work towards a common understanding of the opportunities and challenges posed by emerging and critical technologies.