PM Modi warns ‘young’ crypto users in India in his first public comment on crypto

  • In his first public comments on cryptocurrencies, Prime Minister Narendra Modi on Thursday warned that bitcoin presents a risk to younger generations as his government prepares to introduce legislation to regulate digital currencies
  • Speaking at the Sydney Dialogue, a forum on emerging, critical, and cybertechnologies, PM Modi framed virtual money, which is highly popular in India and exists beyond state and central bank control, as a domain that needs to be closely policed.
  • He mentioned that “The Centre is considering a regulatory framework to manage and oversee investments made in cryptocurrency”.

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