nhnhbg Indian PM Modi Invites World Organizations to Develop Centralized Rule for Cryptocurrency – Money Up Down
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Indian PM Modi Invites World Organizations to Develop Centralized Rule for Cryptocurrency

modi on cryptocurrency

During world economy forum speech the Indian Prime Minister Modi invited all the country leaders to take steps against the sudden boom in the cryptocurrency ecosystem and thus the increasing threat of cyber frauds and terrorism.

As per Mr. Modi, the unregulated crypto trading would become a serious threat to world economy and it would boast global terrorism as it has become a popular method to make bulk transactions anonymously and that’s too through an extremely diversified method.

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As per report, during the global economy forum meeting, Mr. Modi, the Indian Prime Minister was delivering his virtual speech and he pointed on several global issues which includes supply chain issue, inflation, climate change and so on. He also focused on the increasing importance of promoting electric vehicle.

During this speech he pointed towards the global craze on cryptocurrency and the increasing frauds on it. He suggested that if countries develop their rules individually, it won’t work on this diversified blockchain system and people still would be able to utilize the loopholes very easily. So, he invited all the global bodies like WHO, World Bank, IMF and other major bodies to participate in development of an international and centralized rule to control cryptocurrency globally.

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Mr. Modi included that if we don’t tame this growing platform seriously on urgent basis, it can go beyond control which will drastically impact on global economy and due to easy terror funding, it will eventually increase terrorism across the globe.

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Now, let’s see how the global leaders take this suggestion of the world’s biggest republic country and what steps are being taken to control crypto trading.

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