comscore PM Modi warned youth against Cryptocurrency, says it must not fall into wrong hands
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PM Modi warned youth against Cryptocurrency, says it must not fall into wrong hands

In his speech, the PM said that the world has ushered in a new era of opportunities for progress and prosperity. However, at the same time, "we also face new risks and new forms of conflict across diverse threats, from sea-bed to cyber to space."

Modi

India Prime Minister Narendra Modi


India Prime Minister Narendra Modi during a virtual keynote at the Sydney Dialogue conference hosted by the Australian Strategic Policy Institute has expressed his views on cryptocurrencies, and stated that they must not fall into the “wrong hands and spoil our youth.” During the keynote address, he also added that all the democratic nations should work together and ensure that such a thing does not happen. Also Read - Top 5 games to learn the basics of cryptocurrency

“We are in a time of transformation,” he said, adding an emphasis on the impact of the Digital Age that “occurs just once in a generation, where technology and data are becoming new weapons.” Also Read - "Mobile payments exceeded ATM cash withdrawals for the first time" in India last year: PM Modi

In his speech, the PM said that the world has ushered in a new era of opportunities for progress and prosperity. However, at the same time, “we also face new risks and new forms of conflict across diverse threats, from sea-bed to cyber to space. Technology has already become a major instrument of global competition and key to shaping the future international order.”

This keynote follows a high-level meeting chaired by the PM last week. The topic of discussion during the meeting was issues related to crypto regulation, and how these cryptocurrency markets cannot be allowed to become avenues for money laundering and terror financing.

Government sources recently told PTI, that the government is keeping a close watch on cryptocurrencies and will take proactive steps towards its regulation.

In other news, a Parliamentary Standing Committee on Finance was recently convened where it was reportedly concluded that “cryptocurrency cannot be stopped” but have to be “regulated,” according to ANI. The meeting was attended by various stakeholders including cryptocurrency exchanges, Crypto Assets Council (BACC) and more.

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  • Published Date: November 18, 2021 4:48 PM IST



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