Cryptocurrency should not be allowed to become source of money laundering, terror funding: Center

New delhi date. 13
An important meeting on cryptocurrency issue was held on Saturday under the chairmanship of Prime Minister Narendra Modi. The meeting decided not to allow unregulated cryptocurrencies to become a source of money laundering and terror financing. A number of aspects of the cryptocurrency issue were discussed at the meeting.
The meeting expressed concern over the highly enticing and non-transparent advertisements misleading the youth on the issue of cryptocurrency and decided to take steps to control these advertisements. The RBI, the Ministry of Finance, the Ministry of Home Affairs have in the past held extensive discussions with experts in the country and around the world on the issue of cryptocurrency. Examples of cryptocurrency and best practices in the world have also been studied. The meeting was then convened by Prime Minister Modi himself.
The government is aware of the fact that cryptocurrency is an evolving technique, sources said. So the government will keep a close eye on it and take active action. The meeting also agreed that the government would take progressive and far-sighted steps in this area. The government will continue to actively discuss with experts and other stakeholders. As this issue is linked to the borders of different countries, global partnership and collective strategy for it will also be discussed.