Government concerned over crypto use for laundering, terror

The government is looking at “forward looking and progressive” regulation of cryptocurrency with government sources making it clear that an unregulated market for digital currency cannot be allowed to become avenues for money laundering and terror financing. Following a meeting chaired by PM Narendra Modi on Saturday, it emerged there was a strong view that attempts to mislead the youth through non-transparent advertising, that “over-promises”, needed to be stopped.

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