According to reports, PM Narendra Modi conducted a pivotal meeting on the way forward for crypto and related issues today. The important meeting comes after Shaktikanta Das, Governor of Reserve Bank of India (RBI) sounded serious on cryptos, warning investors of the possible risk of the digital currency.
Das, on Wednesday, said that cryptos are a very significant issue from a macroeconomy and financial stability point of view. The meeting was a consequential one and there were also discussions about how to cease advertisements that mislead and over-promise the young investors.
The meeting was also a result of an advisory process as the Finance Ministry, RBI, Home Ministry had done a detailed exercise on it as well as discussed professionals from across the world and country.
According to the sources that amidst the meeting unregulated cryptocurrency market concerns were considered and that they can’t be let become avenues for terror financing and money laundering.
Government is conscious of the fact that this is a developing technology hence the government will keep a stern watch and take proactive steps.
There was also concord during the meeting that the initiatives taken in the crypto world and concerned issues by the govt will be forward-looking and progressive. As per sources, the government will resume to dynamically engage with other stakeholders and experts.