On June 4, Indian PrimeMinister (PM) Narendra Modi and his Australian counterpart Scott Morrison during an online summit decided to address potential risks associated with virtual assets and new financial technologies that may be abused for money laundering and terrorist financing, reports Financial Express. In a joint statement, recognising terrorism remaining a threat to peace and stability in the region, both the countries pressed for a comprehensive approach in combating terrorism, including by countering violent extremism, preventing radicalisation, disrupting financial support to terrorists and facilitating prosecution of those involved in acts of terror while calling for early adoption of a Comprehensive Convention on International Terrorism (CCIT). Both the countries vowed to take steps to ensure that virtual assets service providers are subjected to anti-money laundering and counter terror financing regulations in accordance with the G20 Osaka leaders’ agreement on preventing exploitation of the internet for terrorism and violent extremism conducive to terrorism.