Prime Minister Narendra Modi on Saturday chaired a high-level assembly on cryptocurrencies and different associated points. Officers from the Reserve Financial institution of India (RBI), Finance Ministry, the Securities and Change Board of India (SEBI) had been additionally a part of the assembly.
The assembly was an consequence of a consultative course of as RBI, Finance Ministry and Residence Ministry have already executed an elaborate train on it in addition to consulted consultants from throughout the nation and the world. World examples and finest practices had been additionally checked out, authorities sources stated.
Through the assembly, it was strongly felt that makes an attempt to mislead the youth by means of over-promising and non-transparent promoting be stopped. Apart from, it was additionally mentioned that unregulated crypto markets can’t be let to turn into avenues for cash laundering and terror financing, the sources stated.
The federal government is cognizant of the truth that that is an evolving know-how and can preserve an in depth watch and take proactive steps. There was additionally a consensus within the assembly that the steps taken on this area by the federal government must be progressive and ahead trying, the sources added.
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