PM Modi urges democratic nations to work together on cryptocurrency

All democratic nations must work together to ensure cryptocurrency "does not end up in wrong hands, which can spoil our youth," Indian Prime Minister Narendra Modi said on Thursday, in his first public comments on the subject.

Mumbai: Prime Minister Narendra Modi said on Thursday urged all democratic to work together on on cryptocurrency.

The PM urged to ensure cryptocurrency "does not end up in wrong hands, which can spoil our youth," during his speech at the Sydney Dialogue. The Central  government is still considering a regulatory framework required to manage and oversee investments made by millions of Indians in the digital currency.

Last week Modi chaired a meeting to discuss the future of cryptocurrencies amid concerns that unregulated crypto markets could become avenues for money laundering and terror financing, sources had told Reuters.