• The crypto meeting was chaired by the Indian prime minister.
• Meeting will be focused on the unregulated market for crypto assets.

As Prime Minister Narendra Modi presided over a meeting on Saturday regarding cryptocurrency and misleading issues, it was once again a topic of hot interest in India. The meeting was focused in detail on unregulated markets which cannot be used as a means of money laundering or terror financing.

To address the issues of fraud and terror, the government is pledging to actively engage in this field with specialists. In the meantime, authorities want to curb the over-promising or non-transparent marketing of digital assets. This vision is intended to protect the citizens of India and especially youth from fraud.

Recognizing that this technology is constantly changing, the government will be vigilant and make proactive moves to address it. The consensus was that government’s efforts in this area will be forward-looking and progressive.

India’s relationship with cryptocurrency has been volatile. News broke fast that RBI had banned banks and financial institutions from using cryptocurrencies because of its financial instability. But, the Supreme Court of India ruled that the RBI rules of previous months had been rescinded on March 4th 2021.

However, today’s crypto industry is on a path to becoming more greener. The crypto market has a total value of over $3 trillion. And other cryptocurrency have also played an important role in the market surge.

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