In what considered to be a surprise move relating to cryptocurrency regulation or adoption in India, Indian Prime Minister chairs an immediate meeting with high level authorities. The details of the meeting are yet to be out, however as per reports that are coming out, it was discussed and consulted that cryptocurrency has the potential of misleading Indian youth, through over promissing and non transparent advertising.
The meeting was chaired alongwith Home ministry and Reserve Bank of India. It was also discussed that unregulated crypto currency could become avenues for money laundering and terror financing. The meeting was the outcome of the detailed anlaysis carried on by the finance ministry and other experts after taking into accounts its acceptance around the globe. The meeting was held one month ahead of the RBI panel report that was supposed to tabled before the government.
According to the reports, the government is taking into all considerstion of latwst technology involved into crypto currency. They will keep a close watch and would take a proactive steps either to regulate or adopt it in India.
With billion of money invested on cryptocurrency, these kind of meetingbgives a goosebumps to many investors. People are advocating for crypto regulation but the fate will be decided by the government stand. Hope the wave move in positive direction.
