Modi warns bitcoin could ’spoil’ young Indians
Indian Prime Minister Narendra Modi on Thursday warned that bitcoin presents a risk to younger generations, sounding a hawkish tone as his government prepares to introduce legislation to regulate cryptocurrencies.
Speaking at an online cybersecurity forum, Modi framed virtual money as a domain that needs to be closely policed.
“Take cryptocurrency or bitcoin, for example,” he told a forum hosted by the Australian Strategic Policy Institute. “It is important that all democratic nations work together on this and ensure it does not end up in the wrong hands, which can spoil our youths.” (AFP)