New Delhi | Jagran News Desk: Central government raised the issue of the usage of cryptocurrency for money laundering. The concern was the main topic of discussion in the meeting chaired by Prime Minister Narendra Modi on Saturday. 

It was strongly felt in the meeting that attempts to mislead the youth through over-promising and non-transparent advertising should be stopped, the sources said, signalling that strong regulatory steps are in the offing.

 
 

"The government is cognizant of the fact that this is an evolving technology, it will keep a close watch and take proactive steps. There was consensus also that the steps taken in this field by the government will be progressive and forward looking," a source said.

The government will continue to proactively engage with experts and other stakeholders, sources added, noting that since the issue cuts across geographical borders, it was felt that it will also require global partnerships and collective strategies.

The meeting on the way forward for cryptocurrency and related issues was a very comprehensive one.

"It was also an outcome of a consultative process as RBI, Finance Ministry, Home Ministry had done an elaborate exercise on it as well as consulted experts from across the country and the world. Global examples and best practices were also looked at," the source said.

Posted By: Sanyukta Baijal