Indian Prime Minister Narendra Modi addressed the issue of cryptocurrency regulation in an interview with Business Today. Modi said that cryptocurrencies need global frameworks and regulations, and that rapid technological change is a reality, and it makes no sense to ignore it or hope it disappears. Instead, the focus should be on adoption, democratization and harmonization of approaches. At the same time, the rules, regulations and framework around it should not only belong to certain countries.
Therefore, not only encryption technology, but all emerging technologies need a global framework and regulations. We need a global model based on consensus, especially one that takes into account the concerns of countries in the global south.