Modi calls for common thinking among nations to fight challenges from crypto

Our Bureau Updated - January 18, 2022 at 09:04 AM.
Prime Minister Narendra Modi | Photo Credit: -

Prime Minister Narendra Modi on Monday called for common thinking among nations against cryptocurrency. This issue has re-emerged at a time, when the Budget Session of Parliament is set to begin from January 31 and the expectation is that the government will attempt again to bring a legislation on crypto.

Addressing the annual summit of the World Economic Forum, PM said that with the change in the global order, challenges for global family also going up. In order to fight them, there is a need for collective and synchronised action by each and every nation and global agency. Some of these challenges are related with disruptions in supply chain, inflation and climate change.

“One more example is cryptocurrency. The kind of technology, associated with it and the challenges because of it cannot be tackled by the decision of one nation. We all need to have common thoughts on this,” he said while delivering a special address titled ‘State of the World’. The annual summit was addressed by Kishida Fumio, Prime Minister of Japan, Ursua von der Leyen, President of the European Commission, Scott Morrison, Prime Minister of Australia, Joko Widodo, President of Indonesia, Naftali Bennett, Prime Minister of Israel and Xi Jinping, President of the People’s Republic of China among others.

PM wanted to know whether multilateral organisations are ready for new world order and new challenges. When these organisations were established, situations were different and today these are different. “It is the responsibility of every democratic nation to emphasise on reforms in these multilateral organisations so that they should be able to face present and future challenges,” he said.

Published on January 18, 2022 03:31

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