As India is mulling new rules for digital money, Prime Minister Narendra Modi has called for regulations to ensure cryptocurrencies like bitcoin do not “end up in the wrong hands,” warning that this could “spoil” young people.

While he did not expand on those concerns, Modi spoke on Thursday about the need for “democratic nations” to band together and deal with challenges posed by emerging technologies. He was delivering a virtual address at the Sydney Dialogue, an annual cyber-tech summit.

Noting that technology and data could either become “new weapons” for conflict or “instruments of cooperation,” Modi brought up digital currencies as an example of how it was important that like-minded nations “work together on this” to “ensure it does not end up in the wrong hands, which can spoil our youth.”

We are at a historic moment of choice. Whether all the wonderful powers of technology of our age will be instruments of cooperation or conflict, coercion or choice, domination or development, oppression or opportunity.

He also urged the development of technical and governance standards and norms, singling out the use of data, and called for renewed efforts to prevent manipulation of public opinion. In recent weeks, Indian authorities have raised concerns over claims of huge returns from cryptocurrency investment as well as its potential connections to money laundering, organized crime and terror financing.

Read more

© AP Photo / Charles Krupa
Bitcoin crashes after China rules all crypto-related transactions illegal

On Saturday, Modi chaired a meeting to formulate the country’s approach to digital currencies and examine their impact on the economy. According to The Economic Times, Indian officials are drafting regulations to propose a ban on all transactions and payments in cryptocurrencies, while allowing investors to hold them as assets, similar to gold, bonds and stock shares.

Citing unnamed sources familiar with the government’s discussions, the newspaper said there was a belief in policy circles that crypto markets needed to be regulated in order to tackle the problem of opaque advertising that exaggerates investment returns in order to attract young investors.

The sources informed the newspaper that draft legislation on the matter was expected to be forwarded to Modi’s cabinet for consideration in the next two to three weeks.

In September, China had banned all cryptocurrency transactions and crypto-mining.

If you like this story, share it with a friend!

find more fun & mates at SoShow now !

Reuters has apologized for its poor choice of photo to illustrate a story about a monkey brain study that was deemed offensive and racist in China.

On Thursday, Reuters published a story titled “Monkey-brain study with link to China’s military roils top European university.” The report was about a Chinese professor studying how a monkey’s brain functions at extreme altitude.

The study was done with the help of Beijing’s People’s Liberation Army (PLA) with the aim of developing new drugs to prevent brain damage, Reuters said.

The news agency promoted the story on Twitter with a photo of smiling Chinese soldiers in an oxygen chamber.

The tweet prompted outrage in China, with people calling it racist on social media. Reuters responded on Friday night by deleting the original tweet because the photo of Chinese soldiers was unrelated to the story and “could have been read as offensive.”

“As soon as we became aware of our mistake, the tweet was deleted and corrected, and we apologize for the offense it caused,” Reuters said in a statement to the Global Times, China’s state-run newspaper.

It was not the first time the leading Western news agency had run into trouble in China. In July, the Chinese Embassy in Sri Lanka criticized Reuters for using a photo of Chinese weightlifter and Tokyo 2020 Olympics gold medalist Hou Zhihui that the country’s state media described as “ugly” and “disrespectful to the athlete.”

Think your friends would be interested? Share this story!

find more fun & mates at SoShow now !

This piece by General Joseph Votel (Ret.) and Lt. Gen. Michael K. Nagata (Ret.) and was first published by our friends at the Middle East Institute.


Lt. Gen. (ret.) Michael K. Nagata is a distinguished senior fellow on national security at MEI. He retired from the U.S. Army in 2019 after 38 years of active duty, with 34 years in US Special Operations. His final position was director of strategy for the National Counterterrorism Center from 2016 to 2019.

Gen. (ret.) Joseph L. Votel is a distinguished senior fellow on national security at MEI. He retired as a four-star general in the U.S. Army after a nearly 40-year career, during which he held a variety of commands in positions of leadership, including most recently as commander of CENTCOM from March 2016 to March 2019. 


OPINION – The United States and Pakistan have had a complex and often disappointing “love-hate” relationship since 1947 — one severely tested during the 20-year U.S.-led intervention in Afghanistan. We believe the time has come for serious policy consideration of whether and how both nations can achieve a more strategically beneficial and sustainable post-intervention relationship between the American and Pakistani governments and their populations.

As we consider a new policy, the U.S. military withdrawal from Afghanistan after two decades of leading the international coalition is almost complete. Early indications are that Afghanistan is increasingly likely to descend into significant instability and possibly serious fracture, which will have unwelcome consequences for the Afghan people and all of Afghanistan’s neighbors. It is already clear that international terrorist groups like al-Qaeda and Islamic State-Khorasan Province will continue to enjoy and probably grow their safe havens.

Whatever U.S. strategic concerns may be about the future of Afghanistan, the course and direction of Pakistan’s strategic choices in coming years will also matter to the United States. There are a variety of reasons for this.

First, Pakistan is a nuclear weapon state. Decades of investments in nuclear weapons by Pakistan and India, compounded by unrelenting and mutual historical, religious, cultural, and political antagonism between them, make this one of the world’s most dangerous flashpoints.

Second, all of the countries Pakistan borders are consequential for the U.S. Pakistan also has significant religious, cultural, and economic ties to other Muslim states such as Turkey and Saudi Arabia. In an era of “great power competition,” while Pakistan may not be one of the principal players, its network of relationships can be of strategic benefit to any of the great powers now involved, including the U.S. and China.

Third, despite its significant political and economic difficulties, Pakistan has a growing technology sector. Its youthful population and worldwide diaspora of Pakistani doctors, scientists, academics, and other professionals have become an increasingly important part of the global community.


The Cipher Brief hosts private briefings with the world’s most experienced national and global security experts.  Become a member today.


As long-time veterans of South Asia, both of us understand the sources of “weariness and wariness” that U.S. policymakers, in both Democratic and Republican administrations, often associate with strategic discussions of Pakistan. We have both seen the U.S. government’s reluctance toward undertaking any kind of strategic interaction or rapprochement with Pakistan because of previous disappointments or perceived betrayals. Understanding the enormous complexities of Pakistan’s relationships, influence, and strategic choices in the South Asia milieu can be intellectually challenging and draining.

Yet, we have both concluded that the only thing harder than establishing a functional and mutually beneficial relationship with Pakistan is living without one. Given unstable borders, a nuclear standoff with India, the continued presence of terrorist organizations, and the high potential for all of this to further disrupt our interests, there is no better alternative.

Among those areas that we believe worth exploring with the Pakistanis are these:

First, the possibility of planning, along with other like-minded international actors (both state and non-state), to manage the consequences of significant political instability and human suffering emerging from Afghanistan, including the possibility of substantial refugee flight into Pakistan. Indeed, the Pakistanis have long and miserable memories of the surge of Afghan refugees after the Kabul government collapsed in the 1990s and have consistently expressed deep concerns about a possible repeat resulting from the U.S. withdrawal now nearing its completion.

Second, the possibility of counterterrorism cooperation against any terrorist threat that emerges from Afghanistan and prevents it from sowing further instability across the region. We do not consider it likely that Pakistan will allow any positioning of U.S. intelligence or counterterrorism elements within its borders. Still, there may be other ways (e.g., working groups, forums, or exchanges) to foster better cooperation if a threat emerges from Afghanistan that is of concern to our mutual interests.

Third, the possibility of enlisting Pakistan cooperation, and that of India, toward some type of partial de-escalation of tensions along their common border and, with it, even a slight amelioration of the nuclear weapons threat. It is instructive to recall that, before 9/11, Pakistani President Pervez Musharraf and Indian Prime Minister Atal Bihari Vajpayee initiated a dialogue about the de-escalation of tensions that included the highly emotional issue of Kashmir. However, talks broke down without significant agreement. While we recognize this is an extraordinarily complex and fraught issue for the U.S. to embrace, given all of its other strategic challenges, the specter of a potential nuclear conflict in South Asia should at a minimum prompt us to ask ourselves, “why not at least try?” Indeed, U.S. antagonists such as China would probably take a dim view of such efforts, and we believe that might be a reason for doing so rather than a reason to flinch from it.


Go beyond the headlines with expert perspectives on today’s news with The Cipher Brief’s Daily Open-Source Podcast.  Listen here or wherever you listen to podcasts.


We have long heard U.S. policy and operational practitioners cite phrases such as “never underestimate the Pakistanis’ ability to disappoint us.” But, unfortunately, most American policymakers do not understand how often we have heard the Pakistanis say the same thing about Americans. Thus, both sides have longstanding “neuralgias” about the other. As we end our Afghan campaign, now is the time to move beyond our neuralgias and carefully weigh the strategic costs of whether trying to somehow partner with Pakistan is more, or less, than the cost of failing to do so. We believe, in the long run, it is likely to be less costly.

The views expressed in this piece are those of the authors.

Read more expert-driven national security insights, perspective and analysis in The Cipher Brief

The post OPINION: The Future of US Cooperation with Pakistan appeared first on The Cipher Brief.

find more fun & mates at SoShow now !