Indian government offers crypto cooperation to democratic countries

by in Cryptocurrency News


Today India is one of the few countries that intend to work with cryptocurrencies in the long term. The government of this state has been going for a long time to create a regulatory framework for digital currencies and recognize them as a separate class of assets. Recently, the Indian authorities have publicly addressed democracies, urging them to cooperate in the field of virtual money.

The government's keen interest in digital assets began to emerge amid frequent discussions about growing banking problems in India. In particular, the Prime Minister of the country Narendra Modi often began to talk about the development of the cryptocurrency industry, who believes that, with the right approach, you can get good benefits from new money and distributed ledger technology.

Recent interest in cryptocurrencies has not prevented Modi from linking digital assets with money laundering and terrorist financing crimes in his speeches. According to the Prime Minister, the use of virtual money by representatives of the criminal world is the main reason why cryptocurrencies cannot yet become an official means of payment in India. However, the official hopes that in partnership with other countries, the authorities will be able to find an alternative in this matter.