India
Terrorist Funding and Money Laundering Are Among Cryptocurrency Risks Says FM Sitharaman
Amid the pioneering fintech revolution, Union Finance Minister Nirmala Sitharaman branded “money laundering” and “its use for terror funding” the major risks of bitcoin. Her remarks occurred when she was speaking at a lecture at the International Monetary Fund (IMF current )’s spring meeting in Washington.
“I believe the largest danger for all nations will be money laundering and currency being used to finance terrorism,” she said, adding that legislation appears to be the only answer for employing such technology and that it will have to be so adapted that it is not behind the curve but ahead of it.
“But that’s not conceivable if one country believes it can do it alone; it needs to be done across the board,” she continued. The Union Minister’s remarks were particularly noteworthy since they came at a time when the debate about the future of bitcoin in India was on the increase. Taxation of cryptocurrencies was included in the Union Budget 2022, which was presented by Nirmala Sitharaman earlier this year. Virtual Digital Assets (VDAs), which include digital gold, central bank digital currency, and any other conventional digital assets, would be taxed at a rate of 30%.
A formal meeting in Washington will be attended by the Finance Minister.
In particular, the Finance Minister is now in Washington for the spring meetings of the International Monetary Fund and the World Bank, after which she will attend the G20 Finance Ministers’ conference and the meeting of central bank heads. She took part in a high-level panel discussion titled “Money at a Crossroad” sponsored by IMF Managing Director Kristalina Georgieva, who stated in her opening comments that it is a one-way path in which digital money will play a larger role.
Sitharaman also praised India’s digital performance and the government’s efforts to develop a digital infrastructure framework over the previous few decades, emphasizing the country’s increasing digital adoption rate, particularly during the COVID-19 epidemic.
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Navi Mumbai Police Arrest African National With Rs 1 Crore Worth Of Cocaine In Ulwe
The Anti-Human Trafficking Unit (AHTU) of Navi Mumbai Police arrested Jeorge Ocante DaSilva, a 35-year-old native of Guinea, on Monday for possessing 410 grams of cocaine, allegedly intended for illegal sale. Acting on a tip-off, API Alka Patil of the AHTU led a raid at RM Heights Building in Ulwe, where DaSilva was found in possession of the narcotics.
Around 2:30 p.m. on October 28, officers discovered 410 grams of cocaine, valued at approximately Rs 1,02,50,000, hidden in DaSilva’s bedroom. Authorities also seized a mobile phone, a black Tabata weighing scale, scissors, plastic packaging bags, and a sky bag, bringing the total seizure value to Rs 1,02,55,610.
An FIR was filed at Panvel City Police Station under Sections 8(a) and 21(a) of the Narcotic Drugs and Psychotropic Substances (NDPS) Act. Dasilva was presented in court and remanded to police custody until October 31, 2024. Investigations are ongoing, with the Crime Branch seeking potential accomplices and sources of the narcotics. Notably, Dasilva has a prior NDPS case registered at Nahar Police Station in Mumbai.
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Taloja Society Chairman Detained For Allegedly Abusing Residents And Objecting To Diwali Decorations
The chairman of a housing society in Taloja Phase One has been detained by Taloja police following allegations of verbal abuse toward residents, including women, and objections to Diwali lighting in the complex. The incident occurred on Tuesday night, sparking outrage among residents.
According to the police, the chairman is accused of abusing a woman with intent to insult her modesty, provoking a breach of peace, and engaging in criminal intimidation. A formal complaint was filed, and the chairman was promptly taken into custody.
The situation intensified after a video of the incident went viral on social media platform X (formerly Twitter), showing a group of men, allegedly from the housing society, verbally abusing residents and threatening to halt Diwali decorations. The video received widespread attention, with users expressing shock over the treatment of residents.
Police officials confirmed that the chairman’s detention is part of an ongoing investigation into the incident. Residents are awaiting further action as authorities work to address the disturbance and ensure the safety of the community amid Diwali festivities.
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Thane Sees Surge of Nomination Filings for 2024 Vidhan Sabha Election
The final day for filing nominations for the 2024 Vidhan Sabha General Election witnessed a surge of candidates in Thane district, with a total of 281 applications submitted across 18 assembly constituencies. This high turnout signals a competitive race for seats in the upcoming election.
Among the nominees, 114 candidates represent various political parties, while 167 have filed as independents, reflecting a diverse array of participants aiming to represent Thane’s voters. Nominations were filed throughout the day with election decision officers at each constituency, marking an essential step in the electoral process.
Collector and District Election Decision Officer Ashok Shingare announced that the scrutiny of these nomination forms is scheduled for October 30, 2024. Following this verification process, candidates who wish to withdraw their names from the race may do so until November 4, 2024.
As the election date approaches, Thane’s political landscape appears more dynamic than ever, with a record number of candidates ready to contest the assembly seats, making for an engaging electoral season for voters and candidates alike.
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