During the meeting of the G20 leaders in India, the Prime Minister of the country called on the participants to create an international system for regulating digital assets.

Speaking about new technologies like blockchain and digital assets, Indian Prime Minister Narenda Modi explained the importance of creating a global set of rules to ensure the safety of users and norms for the ethical use of cryptocurrencies:

“The rapid pace of technological change has become a reality that cannot be ignored, whether we like it or not. Instead, the focus should be on the adoption of democratization and a unified approach, especially when it comes to creating a regulatory framework for the use of new technologies. Such as blockchain and digital assets,” said Narenda Modi.

The official said that the economic consequences of the introduction of crypto technologies are global. Therefore, the laws and regulations that will be created to control the cryptocurrency industry cannot be limited to a single country, but must be applicable throughout the world.

Earlier, the Indian company Beyond Imagination Technologies announced a partnership agreement with the Indian Armed Forces, which is going to use a blockchain-based platform for communications.