• The Centre may regulate cryptocurrency due to concerns over terrorist funding: Sources

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    The Centre may regulate cryptocurrency due to concerns over terrorist funding: Sources

    In the next months, the discussion over cryptocurrency regulation is expected to flare up. color:#252525">

    color:#252525">Digital Desk: As per sources, the finance ministry is mulling
    cryptocurrency laws. The development comes amid ongoing concerns about
    financial instability and the hazards associated with digital assets.



    color:#252525">According to sources, most countries view cryptocurrency as a
    source of terror funding and money laundering.



    color:#252525">According to reports, India had negotiations with other
    bilateral partners and international organizations on global regulation of
    private cryptocurrencies on the sidelines of the G20 summit.



    color:#252525">In the next months, the discussion over cryptocurrency
    regulation is expected to flare up.



    color:#252525">"By definition, cryptocurrency is transnational,
    necessitating international coordination to prevent regulatory arbitrage.
    " As a result, any law for regulation or prohibition may be successful
    only after extensive international collaboration on evaluating risks and
    advantages, as well as the establishment of a common taxonomy and
    standards," Finance Minister Nirmala Sitharaman had stated.



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