PM Modi: All democratic countries collaborate on cryptocurrency at Sydney Dialogue

PM Modi: All democratic countries collaborate on cryptocurrency at Sydney Dialogue

Prime Minister Narendra Modi: All democratic countries collaborate on cryptocurrency at Sydney Dialogue
Prime Minister Narendra Modi: All democratic countries collaborate on cryptocurrency at Sydney Dialogue

Prime Minister Narendra Modi today highlighted the effect of the Digital Age, saying, “We are in a time of change” that occurs just once in a generation, where technology and data are becoming new tools. PM Modi stated that in the digital age, data is the most essential thing; and that India has established a robust framework to preserve its security and privacy, and that it is used to empower people. “At the same time, it is redefining international competition, power, and leadership”. It has also opened up new avenues for growth and success.”. Politics, business, and society have all been reshaped by the digital era; which has also raised new problems about sovereignty, governance, policy, laws, rights, and security. “At the same time, it is redefining international competition, power, and leadership”. It has also opened up new avenues for growth and success.”

PM Modi’s remarks on cryptocurrency at the Sydney Dialogue

PM Modi stated that all democratic countries must work together to ensure that cryptocurrencies do not fall into the wrong hands.

“India’s industry and services sectors are undergoing massive digital transformation using technology for conversion of resources and protection of biodiversity,”

PM Modi said at the Sydney dialogue.

Prime Minister Modi’s speech was followed by introductory remarks from Australian Prime Minister Scott Morrison, according to a statement from the Prime Minister’s Office. The goal of the dialogue was to bring together political, commercial, and government leaders to discuss, generate new ideas, and strive toward a shared understanding of the opportunities and challenges provided by emerging and vital technologies.

PM Modi’s Meet on crypto

Prime Minister Narendra Modi chaired a discussion on cryptocurrencies on Saturday, when the concerns about the virtual currency market and India’s future were discussed in detail. The meeting was conducted after Reserve Bank of India governor Shaktikanta Das expressed concerns over bitcoin for investors.

According to reports, the meeting was the result of a “consultative process in which the RBI, finance ministry, and home ministry conducted an extensive exercise on it and consulted experts from around the country and the world”. India is also studying global precedents and best practises in the field of cryptocurrency.

It was considered and resolved that the Centre would take forward-thinking and innovative initiatives in the future when it comes to crypto”. Because the issue runs beyond national borders, it was felt that global alliances and collective strategies would be required,” the report stated. 

According to the PTI news, the government is expected to introduce legislation on cryptocurrencies at the winter session of Parliament, which begins on November 29.

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