The Executive Director of the United Nations shared her opinion on the better outcomes because of crypto use in the internet ecosystem.
Crypto adoption surging rapidly day by day, even though these digital assets pose huge volatility in their value. The most important thing was the result because of the Crypto & blockchain revolution in the payment system. The success of Blockchain technology canbe understood by the fact that the majority of the central banks are working to use blockchain technology in the payment system.
On 18 August, Ghada Waly, the executive director of the drugs and crime office at the United Nations, shared her stance on Cryptocurrencies use in our digital life activities, during her speech at World Economic Forum.
Ghada said that government agencies should first focus on the control of Cryptocurrencies so that we can investigate and catch the bad actors.
She also talked about the illegal use cases of cryptocurrencies like drug dealing or money laundering like works.
“There’s this whole story of cryptocurrencies and how it’s used on the internet in an illegal form,” Ghada said.
The UN executive director also emphasized the need to work in this sector from every perspective. She said that huge investment will come into this industry and here we need to make a better infrastructure for this small sector.
“These are small interventions where a lot of investment needs to happen in infrastructure in capacity building in the cyber security space.”
Ghada also raised the main issues associated with the government laws & policies on Cryptocurrencies, which are not able to catch the bad actors and also not able to prohibit them to stop cybercrime.
In short, the UN executive officer suggested bringing better regulatory policies to ensure the safety of the investors and also prohibit the illegal use cases of cryptocurrencies.