India’s prime minister calls for global regulation of digital currencies

Indian Prime Minister Narendra Modi, in a press interview, said that there should be global cooperation in drafting cryptocurrency regulations and laws during the annual summit of the group of twenty, saying that emerging technologies such as blockchain blockchain and digital currencies, will have a global impact.

Narendra Modi continued that the rules, regulations and frameworks surrounding the cryptocurrency sector should not belong to one country or a group of countries, citing the example of the aviation industry, saying that common rules and regulations governing air traffic control or air security globally, emerging technologies such as digital currencies should also be regulated globally along their lines.

The Indian official explained that his country is playing its part in the regulatory talks for the crypto sector, under India’s chairmanship of the group of twenty, India has expanded the scope of talking about digital currencies beyond financial stability to consider their broader macroeconomic implications, especially for emerging markets and developing economies. It also hosted rich seminars and discussions, deepened ideas about the origins of cryptocurrencies.

It should be noted that earlier, the minister of Finance of India, Nirmala Sitharaman, stated that the group of Twenty is considering joint regulation of the cryptocurrency markets. Sitraman said that India is discussing with all countries about the need for joint regulation of crypto markets, because one country cannot do anything alone about these markets, adding that due to the advanced technologies associated with these digital currencies, countries should discuss the need for joint regulation.