Prime Minister Narendra Modi chaired a comprehensive meeting on the future of cryptocurrency and related issues on Saturday, indicating that the Centre is on the verge of formulating a long-term digital currency strategy.

After the meeting, top sources said the government's first regulatory steps after the PM's review would be to address two flaws associated with the popularity of cryptocurrencies: over-promising and a lack of transparency. This would entail enacting legal restrictions on misleading and non-transparent advertising.