Blockchain, Blockchain News

“International collaboration necessary to ensure proper use of crypto”, says Modi

In his keynote speech at the inauguration The Sydney Dialogue PM Modi called for partnerships and alliances between democratic countries regarding cryptocurrency in order to prevent it from “endangering the youth” or causing them harm.

Prime Minister Modi spoke at the dialogue about India’s positive and rapid approach to technology. He also addressed the theme of India‚Äôs technological revolution and evolution.

PM Modi previously mentioned the misleading and confusing advertisements currently being displayed on crypto-exchange platforms and the need for them to be controlled, particularly from the standpoint of first-time investors. After that, all stakeholders in the space agreed to take easy on advertisements, with WazirX refraining advertising on digital and print platforms.

The crypto bill will likely be presented in the winter session of parliament. This is because crypto is being considered for regulation as an investment class, like gold and bonds, but not for transactional purposes. However, RBI governor ShaktikantaDas raised new concerns about cryptocurrency, noting that there are “far deeper issues involved”.

Das stated that he has yet to see serious discussions about cryptocurrency, and that blockchain technology could thrive without crypto, just as it has for the past decade.