India’s Prime Minister Narendra Modi Prompts Countries to Work Together on Bitcoin, Cryptocurrency
< img width =" 1280" height =" 720 "src=" http://investincryptocoins.com/wp-content/uploads/2021/11/PRMBu0.jpg "class=" story __ img post __ poster" alt=" India's Prime Minister Narendra Modi Prompts Nations to Team Up on Cryptocurrency Like Bitcoin "loading= "lazy" > The prime minister of India, Narendra Modi, has advised democratic countries to work together to make sure that cryptocurrency, especially bitcoin
, does not end up in the wrong hands. Meanwhile, the Modi federal government is
dealing with a regulative framework for cryptocurrencies in India. India’s Prime Minister Modi on Bitcoin and Cryptocurrency Indian Prime Minister Narendra Modi spoke about
cryptocurrency, specifically bitcoin, throughout his virtual keynote address at the Sydney Dialogue Wednesday. He contacted nations to interact to ensure that cryptocurrency does not fall under the wrong hands. “Take cryptocurrency or bitcoin for example. It is essential that all democratic nations interact on this and ensure it does not end up in incorrect hands, which can ruin our youth,” Modi stated.
< img loading= "lazy" class=" size-full wp-image-495581 aligncenter "title=" India's Prime Minister Narendra Modi Prompts Nations to Collaborate on Cryptocurrency Like Bitcoin" src= "http://investincryptocoins.com/wp-content/uploads/2021/11/nK3uz1.jpg" alt=" India's Prime Minister Narendra Modi Prompts Nations to Team Up on Cryptocurrency Like Bitcoin" width =" 805 "height=" 377" > In addition, the prime minister prompted Australia and India’s partners in the Indo-Pacific area” and beyond “to invest together in future technologies to” deepen intelligence and operational cooperation and develop typical requirements for data governance and cross border circulation of information.”
Modi explained that the digital age is altering everything. Besides redefining politics, economies, and societies, it has actually raised new questions on sovereignty, governance, principles, rights, and security.
The prime minister’s declaration on cryptocurrency and bitcoin followed he reportedly chaired a thorough meeting on the subject following a consultation with the main bank, the Reserve Bank of India (RBI), the Ministry of Financing, and the House Ministry.
Today, India’s Parliamentary Standing Committee on Financing likewise held a meeting with representatives from the crypto industry. It was India’s first-ever parliamentary discussion of the broad subject of crypto financing including the industry.
Meanwhile, Modi’s government is working on a regulative framework for cryptocurrencies. Recent reports suggest that the government is preparing to manage crypto as possessions, allowing Indians to hold them as financial investments. However, making use of crypto for payments and deals will likely be banned.
India’s reserve bank has continued to voice “serious and significant” issues relating to cryptocurrency. RBI Governor Shaktikanta Das stated the reserve bank has currently communicated its concerns to the federal government.
Furthermore, Company Standard reported Wednesday that the government is thinking about categorizing cryptocurrency exchanges as e-commerce platforms and imposing a 1% products and services tax (GST) on them.
What do you think of India’s Prime Minister Modi contacting federal governments to work together on crypto? Let us know in the comments section below.
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In Case You Missed It Released at Thu, 18 Nov 2021 16:30:46 +0000