International Business: India’s Modi urges democracies co-operate to make cryptocurrencies safe – Gulf Digital News

International Business: India’s Modi urges democracies co-operate to make cryptocurrencies safe – Gulf Digital News

MUMBAI: Indian Prime Minister Narendra Modi urged co-operation between the world's democracies to ensure cryptocurrencies like Bitcoin do not "end up in the wrong hands", delivering the comments while his government drew up new rules for digital currencies.

Modi did not elaborate on those fears in his speech delivered virtually to the Sydney Dialogue, a forum focused on emerging, critical and cyber technologies.

But authorities in India and elsewhere have flagged the dangers of cryptocurrencies being used by terrorist groups and organised crime, and the destabilising risk they posed to national economies.