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

Gautam Adani: Asia's richest man preparing to become cement king, know what is Gautam Adani's plan

Indian industrialist Gautam Adani ranked seventh among the world's top-10 billionaires and Asia's

Rajasthan: Rahul's big statement on the political turmoil of Rajasthan, said- Gehlot-Pilot both are valuable for us

Rahul Gandhi's statement has come to the fore in the war of words between Chief Minister Ashok Ge

Story of Bharat Pe becoming a brand: Ashneer cleverly defeated Paytm and PhonePe, then how a 21 thousand crore company got into controversies

Ashneer Grover, who came into the limelight with his tough behavior and spot retaliation in the r

Here is the first project of Ranveer Singh and Samantha, this is the reaction of people after watching the video with South actress

No one can answer the question of when the pair of Bollywood actors Ranveer Singh and Samantha Ru

Right To Repair: Gadgets can be repaired from anywhere, the warranty will not end, the government will bring rules

Government Plans 'Right to Repair': Work on developing a framework for the Right to Repair rule t

IND vs AUS: WTC Final 2023 is left on the draw, so who will be the winner between India and Australia? Know what the rules say

The final match of the World Test Championship between India and Australia is to be played from J

Missile case: Pakistan's response appreciated, questions being asked to India

"Anything that enters the airspace of any country is considered an attack. In such a situation, t

Ind vs SL: There was a big lapse in the security of Team India during the second test, an unknown person reached Virat Kohli

Team India tightened its grip in the second test match being played between India and Sri Lanka.

Chancellor Controversy: Controversy over the Bill to change Chancellor in Kerala, Governor Khan raised questions on the legality

Kerala Varsities Chancellor Controversy: Kerala Governor Arif Mohammed Khan has questioned the le

PAK Army-Afghan Taliban clash: 6 people killed and 17 injured, heavy tension on the border of both countries

Tension is increasing between Pakistan and Afghanistan. There was tremendous firing on the border

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