Cryptocurrency Could Be Used For Financing Terror: Fm Sitharaman Raises Alarm

Union Finance Minister Nirmala Sitharaman has said that the biggest risk of cryptocurrency could be money laundering and its use for financing terror. “I think the biggest risk for all countries across the board will be the money laundering aspect and also the aspect of currency being used for financing terror,”Sitharaman said in her address at a seminar during the ongoing spring meet of the International Monetary Fund (IMF).

Finance Minister Nirmala Sitharaman is on an official visit to the United States (US)

During the first day of the visit, Finance Minister participated in a high-level panel discussion on “Money at a Crossroad” hosted by Kristalina Georgieva, Managing Director, IMF.

Apart from her official engagements with the World Bank, IMF, G20, and Financial Action Task Force (FATF), Sitharaman on Monday also attended an event at the Atlantic Council, a think tank based in Washington DC.

The visit will also include several bilateral interactions, including with Indonesia, South Korea, Sri Lanka, and South Africa as well as a high-level meeting with World Bank President David Malpass, a Ministry of Finance statement said.

Sitharaman will also attend an event at the Atlantic Council, a prominent think tank based in Washington DC, and will also interact with the faculty and students at Stanford University.

-With agency inputs

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