The global mechanism will have to be created to control currency like Cryptocurrency: Nirmala Sitharaman


Posted on 3rd Dec 2021 03:04 pm by rohit kumar

Finance Minister Nirmala Sitharaman on Friday called for action at the global level for the ever-changing technology and effective regulation of mobile payment systems. He said that as of now, regulators are busy regulating the ever-evolving technology. They don't have any mechanism by which to regulate it.

 

He said in the Infinity forum that even when we are thinking at the national level, there has to be a global system. This will enable us to continuously monitor the changing of technology. This will happen whether it is Cryptocurrency or technology-based payment, data privacy - everything can be monitored through a single system. He said that there is a preparation to bring a bill on Cryptocurrency.

 

Explain that the government is thinking of regulating virtual currency like Bitcoin through The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021. Along with this, the bill also talks about promoting the technology used in Cryptocurrency. Because the government believes that it is quite safe.

 

Earlier, UIDAI CEO Saurabh Garg said that his organization is looking at collaborating with other countries and international organizations to build digital identity systems across the world. Saurabh Garg gave this information during a panel discussion with Paytm Founder Vijay Shekhar Sharma at Infinity Forum.

 

He said that the authority is exploring emerging technology to enhance security and increase the number of transactions that can be done from the Aadhaar. Garg said, “We think we will be happy to collaborate with other countries going forward… We also look forward to collaborating with international organizations in building international institutions for standards of national identity. We look forward to collaborating with various countries in the future and deciding whether digital identities can become a medium of empowerment around the world. be available."

 

He said that 99.5 percent of the population in India now has an Aadhaar number and five crore authentications are done daily to verify various transactions. Earlier, at a separate event on Thursday, Garg said that UIDAI is working with the World Bank and the United Nations to build infrastructure in other countries.

2 Like 0 Dislike
Previous news Next news
Other news

China's claim: Elon Musk's satellite came twice near our space station, complains to the United Nations

China alleged on Tuesday that the satellites of Elon Musk's company SpaceX have come twice near o

India's Bradman Sarfaraz interview: Kohli was pulled out for being overweight, scored runs at an average of 122 in the last Ranji season

Sarfaraz Khan, who hails from Uttar Pradesh and plays domestic cricket for Mumbai, has not played

Steve Smith could not do wonders with the bat in the 100th Test, created history with fielding and gave a befitting reply to the audience

Australia's Test specialist player Steve Smith is making new records with his performance. Smith

PFI Ban: Ban on PFI to continue, Karnataka High Court dismisses petition challenging the ban

The Karnataka High Court has upheld the ban on the Popular Front of India (PFI). The court on Wed

Pakistan Train Hijack: Mountains all around, entire train trapped in a tunnel; How was Jaffar Express hijacked?

There has been chaos in Pakistan's Balochistan after the hijacking of 'Jafar Express' going from

Emergency again in Sri Lanka: Emergency imposed for the fourth time in 4 months, announced by Acting President Ranil Wickremesinghe

Sri Lanka is facing a severe economic and political crisis. Emergency has been imposed for the fo

Ranbir Kapoor considers himself very lucky to have romance with Aishwarya, told his experience after years

Actor Ranbir Kapoor is busy promoting his upcoming film Shamshera these days. Apart from this, th

What is the effect of space travel on the human body

Scientists have got information about why astronauts become anemic after returning from space, th

Petrol Price: India at number 42 in the world in terms of expensive petrol, know which countries are selling the most expensive

The inflation level in India is increasing month by month. Petrol prices in the country had also

ED will make Jacqueline accused in money laundering case: Chargesheet can be presented in court today, funds of 7.27 crores have already been attached

The troubles of actress Jacqueline Fernandez have increased. ED is preparing to make the actress

Sign up to write
Sign up now if you have flare of writing..
Login   |   Register
Follow Us
Indyaspeak @ Facebook Indyaspeak @ Twitter Indyaspeak @ Pinterest RSS



Play Free Quiz and Win Cash