Nations must ensure cryptocurrency does not end in wrong hands: PM Modi

TIL Desk/National/New Delhi/ Prime Minister Narendra Modi on Thursday urged all democratic nations to work together to ensure that cryptocurrency does not end up in the wrong hands, cautioning that it can spoil the youth.

In a virtual address at the Sydney Dialogue, he said the digital age is changing everything as it has redefined politics, economies and societies and has raised new questions on sovereignty, governance, ethics, rights and security.

Giving an overview of India’s approach to new technologies, Modi said the country is investing in developing indigenous capabilities in diverse areas including in 5G and 6G for the telecom sector.

The prime minister said India uses data as a source of empowerment of people and that the country has unmatched experience in doing this in a democratic framework with strong guarantees of individual rights.

“It is important that all democratic nations work together on this and ensure it does not end up in wrong hands, which can spoil our youth,” he said referring to cryptocurrency.