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Terrorist Funding and Money Laundering Are Among Cryptocurrency Risks Says FM Sitharaman

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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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In Mahape MIDC, A 24-year-old Man Was Beaten To Death Over Chikkis

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In a shop, a 24-year-old man died over two tiny pieces of chikkis from a jar on the counter. The victim, Juyal Imran Khan, 24, of Panvel, was beaten to death by three men on Saturday for stealing chikkis from a shop located at plot no. A/ 544 of Mahape MIDC without authorization.

Khan traveled to Rabale to meet a friend in Gothavli hamlet with his companion Irfan Latif Shaikh, who is twenty-eight. While traveling back from Rabale on Saturday at around 2:00 pm, they became thirsty and made the decision to purchase a bottle of water from a store.

Khan went into a store to get a bottle of water, but while he was there, he opened a jar that was on the counter table, removed two chikkis without permission, and took a bite off of them. The shopkeeper, Anil Kumar, also known as Lagesh Bagelu Gautam (20), became irritated by the behavior and began arguing with Khan.

While at the store, Khan was smoking tobacco, and Gautam got angry when he placed his hand in his mouth. Two other people from the surrounding shop joined Gautam in attacking Khan as the disagreement turned violent, according to police inspector Sunil Waghmare of the Rabale MIDC police station.

Two more men joined Gautam in attacking Khan: Sandesh Subhash Jabbar (age 26) and Sursingh Chandeya Jamuda (age 55). Khan was taken to a hospital by Shaikh, who accompanied him; upon arrival, he was pronounced dead. Shaikh then filed a complaint and told the police. Khan suffered many fractures and a brain injury as a result of the accused’s assault using an iron rod.

The three accused were subsequently taken into custody by the police under sections 103 (1)-murder committed by a group, 115 (1) and 118 (1)-voluntarily causing harm, 352 (1)-intentional harm, and 3-(5) criminal conduct with common intent of Bharatiya Nyay Sanhita (BNS). The defendants are being held in police custody until October 17.

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The Maharashtra Government Declares That Light Motor Vehicles Entering Mumbai Will Not Be Required To Pay Tolls

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The Maharashtra government announced a complete toll-free policy for light motor vehicles at all five entry ports into Mumbai on Monday, October 14, with effect from midnight. At the State Cabinet meeting, the exemption—which covers small cars, school buses, and State Transport (ST) buses—was decided. The goal of this important action is to lessen the load on commuters and drivers entering the city.

Vashi on the Sion-Panvel Highway, Mulund on the Lal Bahadur Shastri Marg and Eastern Express Highway, Airoli Bridge on the Airoli-Mulund Road, and Dahisar on the Western Express Highway are the toll plazas where the waiver would be implemented.

Members of Navi Mumbai’s Maharashtra Navnirman Sena (MNS) greeted the announcement by giving out sweets to drivers at the Vashi toll plaza. The festivities emphasized the party’s longstanding call for openness in toll collecting and the elimination of tolls after toll money was used to finance road repairs.

MNS founding chairperson Raj Thackeray congratulated the people of the Mumbai Metropolitan Region (MMR) and MNS supporters on X (previously Twitter), expressing his happiness at the decision. “Congratulations to all the residents of the MMR area, and a special congratulations to my Maharashtra Sainiks,” he said. They put up a strong fight to ensure that toll transactions are transparent and that if the money collected is used to fund road construction,

Thackeray went on to address the criticism the party received for its tough stance on toll booths, pointing out that extreme measures were occasionally required to draw attention to pressing problems. “In any case, our fight paid off and Mumbaikars were at least free of tolls. We are happy to report that our agitation was successful. However, he continued, “they should reassure the public that this is not a decision made solely for the election.”

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Maharashtra Leads Infrastructure Development with New Projects Worth Rs. 2 Lakh Crores

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Maharashtra Chief Minister Eknath Shinde declared that the state is at the forefront of infrastructure development in India, with projects worth Rs. 2 lakh crores under implementation. Speaking at the inauguration of the North Channel of Thane Khadi Bridge-3 in Vashi, Shinde emphasized the Maharashtra State Road Development Corporation’s (MSRDC) extensive efforts to boost connectivity across the state.

The event also marked the Bhumi Pooja for seven new creek bridges on the Rewas-Redi Sea Highway, which aims to enhance transportation in the Konkan region. The total length of these seven bridges is 26.70 km, with a budget of Rs. 7,851 crores. These projects are expected to reduce congestion and promote local tourism.

Key projects include the Dharamtar Bridge (10.20 km) and Kundalika Bridge (3.82 km), among others. The newly inaugurated Thane Khadi Bridge No.3, costing Rs. 559 crores and stretching 3,180 meters, is set to open for traffic on October 14, 2024.

CM Shinde also announced the Konkan Greenfield Expressway, which will cut travel time between Mumbai and Konkan to five hours. These developments are crucial for enhancing Maharashtra’s road network and boosting the state’s economy.

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