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PM Modi red flags danger of cryptocurrency at Sydney Dialogue

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Prime Minister Narendra Modi on Thursday said all countries must work together on cryptocurrency and ensure that it doesn't end up in the wrong hands

Prime Minister Narendra Modi on Thursday said all countries must work together on cryptocurrency and ensure that it doesn't end up in the wrong hands.

"It is important that all democratic nations work together on this and ensure it does not end up in wrong hands, which can spoil our youth," PM Modi said, in his keynote address at The Sydney Dialogue, this morning, on theme: "India's technology evolution and revolution".

"We are in a time of change that happens once in an era, where technology and data are becoming new weapons," he pointed out.

The Sydney Dialogue is an initiative of the Australian Strategic Policy Institute (ASPI).

“It is a great honour for the people of India that you have invited me to deliver the keynote at the inaugural Sydney Dialogue. I see this as a recognition of India's central role in the Indo Pacific region and in the emerging digital world,” he remarked.

The Prime Minister said that India was playing a key role in the emerging digital world and was ready to work with partner countries for the shared prosperity and security of the Indo-Pacific region.

“The digital age is changing everything around us. It has redefined politics, economy and society. It is raising new questions on sovereignty, governance, ethics, law, rights and security. It is reshaping international competition, power and leadership,” PM Modi said.

“India is ready to work with partners for our shared prosperity and security. India's digital revolution is rooted in our democracy, demography and scale of economy. It is powered by innovation of youth. We're turning challenges into opportunities for the future,” the Prime Minister added.

He pointed out that India’s UPI (United Payments Interface) was the largest instant payment system in the world as the country is aware that financial inclusion holds the key to benefit all the people. 

“We used technology such as Aarogya Setu to deliver COVID-19 vaccines to people across the huge geography of India,” he added.

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