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24.11 - 20:15
Crypto Rules Need To Be Discussed Among Democracies, Says PM Modi
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ndtv.comPrime Minister Narendra Modi urged democratic nations to cooperate in regulating private virtual currencies failing which they could land up in the “wrong hands”.
In a speech at the Sydney Dialogue delivered Thursday, Modi said it was important to ensure the digital currencies should not be used in an unlawful manner as it could spoil the youth. His comments come amid discussions to formulate India's policy on private virtual currencies.
India has had a hot-and-cold relationship with digital currencies in the past few years. In 2018, it effectively banned crypto transactions after a string of frauds following Modi's sudden decision to eliminate 80% of the nation's currencies, but the Supreme Court struck down the restriction in March 2020.
In
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