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Underlining the accelerated development of know-how, Prime Minister Narendra Modi has emphasised the significance of adopting and harmonizing these developments globally. In a current interplay, PM Modi took the chance to debate the ever-growing realm of cryptocurrencies.

Modi’s Call for Global Consensus

“Hence, recognizing the rapid transformation technology undergoes, ignoring or wishing it away isn’t an option,” he shared. Additionally, he make clear how the world wants a unified method to rules. He advocated for guidelines that transcend geographical boundaries, avoiding a singular, nation-focused perspective.

PM Modi on Crypto regulation : pic.twitter.com/WCw1btSjic

— Wise Advice By Sumit Kapoor (@sumitkapoor16) August 27, 2023

Besides contemplating a nationwide or regional view, PM Modi articulated the necessity for a worldwide consensus-based mannequin.

“We can learn from the field of aviation. Moreover, just as air traffic control and air security have global standards, emerging technologies need their global rulebook,” he asserted.

India’s G20 Presidency: Zooming into Crypto

Under India’s helm on the G20 presidency, the discourse on cryptocurrency has been elevated past mere monetary stability considerations. Consequently, the G20 physique has reached a consensus, guiding standard-setting entities. Besides providing management, India’s presidency enriched the worldwide dialogue by insightful seminars, shedding mild on the multifaceted world of crypto property.

Furthermore, the Prime Minister acknowledged the enriching seminars and discussions hosted throughout India’s presidency. These interactions, he believes, haven’t solely deepened the understanding of crypto property but in addition highlighted their broader macroeconomic implications.

As know-how evolves quickly, leaders like PM Modi are steering the dialog in the direction of a extra collaborative and inclusive method. With the world watching, the choices made now will pave the best way for the way forward for cryptocurrencies and different rising applied sciences.

Kelvin is a distinguished author specializing in crypto and finance, backed by a Bachelor’s in Actuarial Science. Recognized for incisive evaluation and insightful content material, he has an adept command of English and excels at thorough analysis and well timed supply.

The offered content material could embody the non-public opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any accountability for your private monetary loss.