{"id":143532,"date":"2023-09-01T17:42:36","date_gmt":"2023-09-01T12:12:36","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=143532"},"modified":"2023-09-01T17:42:36","modified_gmt":"2023-09-01T12:12:36","slug":"indias-pm-advocates-global-ethical-framework-for-crypto-ai-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/indias-pm-advocates-global-ethical-framework-for-crypto-ai-crypto-news\/","title":{"rendered":"India\u2019s PM advocates global ethical framework for crypto, AI &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p>India\u2019s Prime Minister Narendra Modi emphasized on Sunday the need for a global framework to regulate cryptocurrencies, ensuring the interest of all stakeholders. He further stated that a similar approach is essential for the governance of artificial intelligence (AI).\u00a0<\/p>\n<p><strong><em>See related article:<\/em><\/strong> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forkast.news\/indian-crypto-industry-in-stairway-to-heaven\/\">India crypto industry on \u2018Stairway to Heaven\u2019 as government ignores requests in Budget<\/a><\/p>\n<h2 class=\"wp-block-heading\">Fast facts<\/h2>\n<ul>\n<li>\u201cWith time, we have to face issues that we couldn\u2019t even think of 10-15 years ago. For instance, cryptocurrency-related challenges,\u201d Modi said while at the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.b20businesssummit.com\/b20\/\">Business 20<\/a> (B20) summit in India.\u00a0<\/li>\n<li>The B20, a part of the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forkast.news\/headlines\/india-urges-g20-nations-regulate-crypto\/\">Group of 20<\/a> (G20) summit, serves as a platform for the international business community to present unified views. Currently, India holds the presidency of the G20.\u00a0<\/li>\n<li>Modi also said that global business communities and governments need to come together to ensure that \u201cethical\u201d AI is put in place.<\/li>\n<li>\u201cThe world is showing a lot of excitement around AI. But even in this excitement we need to look at some ethical considerations,\u201d Modi said. With skilling and re-skilling, concerns are being raised around algorithm bias and the way it can affect society, he added.\u00a0<\/li>\n<li>The world\u2019s most populous nation, known in the Web3 industry for its cautious stance on cryptocurrency trading, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.g20.org\/content\/dam\/gtwenty\/gtwenty_new\/document\/Presidency_note_on_Framework_for_Crypto_Assets.pdf\">released<\/a> a note suggesting a roadmap for a global crypto assets framework earlier this month. India\u2019s proposal aligns with guidelines provided by the Financial Stability Board and the International Monetary Fund.\u00a0<\/li>\n<li>India imposes <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forkast.news\/headlines\/india-to-tax-on-crypto-income\/\">a 30% flat tax<\/a> on crypto income and a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forkast.news\/india-latest-tax-assault-starts-friday\/\">1% tax deducted at source (TDS)<\/a> on crypto trades above 10,000 Indian rupees (US$121). Furthermore, the country does not allow crypto traders to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forkast.news\/headlines\/india-against-offsetting-losses-with-gains\/\">offset losses<\/a> against profits. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/getkoinx\/status\/1620765842853236738\">Penalties include<\/a> an amount equivalent to TDS for non-deduction, a 15% annual interest for late payment, and a potential jail term of up to six months.\u00a0\u00a0<\/li>\n<\/ul>\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><\/figure>\n<p><strong><em>See related article: <\/em><\/strong><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forkast.news\/india-imposes-money-laundering-regulations\/\">India imposes money laundering regulations on crypto industry<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>India\u2019s Prime Minister Narendra Modi emphasized on Sunday the need for a global framework to regulate cryptocurrencies, ensuring the interest of all stakeholders. He further stated that a similar approach is essential for the governance of artificial intelligence (AI).\u00a0 See related article: India crypto industry on \u2018Stairway to Heaven\u2019 as government ignores requests in Budget [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":143533,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-143532","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/143532","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=143532"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/143532\/revisions"}],"predecessor-version":[{"id":146269,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/143532\/revisions\/146269"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/143533"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=143532"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=143532"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=143532"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}