Aside from getting a permit, firms covered by the new mandate should ensure that their artificial intelligence tools, products, or services "do not permit any bias or discrimination" before being put out to the public.
Rajeev Chandrasekhar pointed out that since digital currencies intersect with the macroeconomy and financial sector, a separate regulation must be launched for efficient control of the budding sector.
Minister Rajeev Chandrasekhar noted that the new rules would be "less prescriptive and more principle-based" to provide for the rapid development of the country's technology sector.
Startups who wish to immerse in the Web3 and digital asset sector are free to do so, Rajeev Chandrasekhar says, stressing that there is no law prohibiting companies from exploring emerging technologies.
