Parliamentary board to meet industry experts today on CryptoFinance

New Delhi: On the topic of "CryptoFinance: Opportunities and Challenges," the Parliamentary Standing Committee on Finance will have a discussion with industry professionals. The committee is chaired by BJP MP and former Union Minister Jayant Sinha. Today's meeting will begin at 3 p.m.

Prime Minister Narendra Modi chaired a comprehensive meeting on the way forward for cryptocurrency and related issues on Saturday, raising the issue of misleading non-transparent cryptocurrency advertising. According to government sources, it was discussed that unregulated crypto cannot be allowed for money laundering and terror financing.

The conference took place following a consultative process involving the Reserve Bank of India, the Finance Ministry, and the Ministry of Home Affairs (MHA), during which global and Indian experts were consulted and worldwide examples and best practises were explored.

According to government sources, attempts to deceive young people through over-promising and non-transparent advertising must be prevented. Unregulated crypto markets cannot be permitted to become conduits for money laundering and terror financing, it was also discussed. According to sources, the government recognises that this is a developing technology and will keep a close eye on it and take proactive measures.

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