India's Prime Minister Narendra Modi calls on the countries to work together in Bitcoin and cryptocurrency - regulation

for cryptocurrencies such as Bitcoin>

The Indian Prime Minister Narendra Modi has asked democratic countries to work together to ensure that cryptocurrencies, especially Bitcoin, do not get into the wrong hands. Meanwhile, the modi government is working on a regulatory framework for cryptocurrencies in India.

India's Prime Minister Modi About Bitcoin and cryptocurrency

The Indian Prime Minister Narendra Modi spoke about cryptocurrency, especially Bitcoin.

He asked the countries to work together to ensure that the cryptocurrency does not get into the wrong hands. "Take cryptocurrency or Bitcoin, for example. It is important that all democratic nations work together and make sure that it does not get into the wrong hands what our youth can spoil," said Modi.

Modi explained that the digital age changes everything. It has not only redefined politics, business and society, but also raised new questions about sovereignty, government, ethics, rights and security.

The Prime Minister's declaration came to cryptocurrency and Bitcoin, after he reported the chair comprehensive meeting on this topic after a consultation with the central bank, the Reserve Bank of India (RBI), the Ministry of Finance and the Ministry of the Interior.

This week also kept India's parliamentary permanent finance committee a target = "_ blank" htef = "https://news.bitcoin.com/indian-parliament-committee-discusses-crypto-regulation- industrial-experts/" noopener "> with representatives of the Crypto industry. It was India's first parliamentary discussion about the broad topic of crypto financing in which the industry was involved.

Modi's government is working on a regulatory framework for cryptocurrencies. The latest reports indicate that the government plans to regulate crypto as assets so that they can keep them as investments. However, the use of crypto for payments and transactions is probably banned.

India's central bank continued to comment "seriously and significantly" concern on the subject of cryptocurrency. RBI-Gouvenur Shaktikanta said that the central bank had already communicated its concerns to the government.

In addition, Business Standard reported on Wednesday that the government is considering classifying cryptocurrency exchanges as e-commerce platforms and collecting a goods and service tax (GST) of 1%.

What do you think that India's Prime Minister Modi asks governments to work together at Krypto? Let us know in the comment area below.

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