The prime minister of India, Narendra Modi, has urged democratic countries to work together to ensure that cryptocurrency, particularly bitcoin, does not end up in the wrong hands. Meanwhile, the Modi government is working on a regulatory framework for cryptocurrencies in India.
In addition, the prime minister urged Australia and India's partners in the Indo-Pacific region "and beyond" to invest together in future technologies to "deepen intelligence and operational cooperation and develop common standards for data governance and cross border flow of data."
Modi explained that the digital age is changing everything. Besides redefining politics, economies, and societies, it has raised new questions on sovereignty, governance, ethics, rights, and security.
This week, India's Parliamentary Standing Committee on Finance also held a meeting with representatives from the crypto industry. It was India's first-ever parliamentary discussion of the broad subject of crypto finance involving the industry.
Meanwhile, Modi's government is working on a regulatory framework for cryptocurrencies. Recent reports suggest that the government is planning to regulate crypto as assets, allowing Indians to hold them as investments.
Source from Bitcoin.com
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