G7 Finance Ministers and Bankers Adopt Guidelines for Central Bank Digital Cu...
Any digital currency issued by a central bank must support financial and monetary stability, finance leaders from G7 member states have insisted. State-issued coins should also ensure privacy, transparency, and data protection, the officials stated. The forum adopted 13 public policy principles for retail digital currencies and stressed that “CBDCs are not ‘cryptoassets.’” CBDCs Must ‘Do No Harm’ to Stability, G7 Finance Chiefs Say Recognizing the potential benefits of innovation in digital money and payments, finance officials from the....
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The G7 finance ministers and central bank governors discussed the need to regulate cryptocurrencies during their latest meeting. German Finance Minister Olaf Scholz raised concerns about Facebook’s upcoming cryptocurrency. G7 Sees the Need to Regulate Crypto U.S. Treasury Secretary Steven Mnuchin hosted a discussion on Monday with finance ministers and central bank governors from Canada, France, Germany, Italy, Japan, the U.K., the European Commission, and the Eurogroup. The meeting was also attended by the heads of the International Monetary Fund (IMF), the World Bank, and the....
The G7 finance ministers and central bank governors have called for a swift and comprehensive regulation of crypto assets. The G7 decision followed the recent crypto market turmoil, including the collapse of cryptocurrencies LUNA and UST.
G7 Countries Calling for Swift, Comprehensive Regulation of Crypto Assets
The finance ministers and central bank governors from the Group of Seven (G7) industrialized nations convened in Bonn and Königswinter, Germany, on May 18–20.
Among the topics they discussed was the regulation of crypto assets following the recent....
Financial leaders from the G7 agree that CBDCs would complement cash and should not be detrimental to the monetary system. Group of Seven advanced economic nations has been discussing central bank digital currencies (CBDCs) this week, concluding that they should “do no harm” and meet rigorous standards.Finance leaders from the G7 met in Washington on Oct. 13 to discuss central bank digital currencies and endorsed 13 public policy principles regarding their implementation.The G7, which comprises Canada, France, Germany, Italy, Japan, the U.K., and the U.S., mandated that any newly launched....
The Central Bank Of Brazil, the highest monetary authority of the country, has released a note listing the general guidelines for the design of a hypothetical central bank digital currency (CBDC) for the country. While there are still no concrete steps taken in this direction, at least the document recognizes there have been discussions about this possibility in the institution. Central Bank of Brazil Issues General CBDC Guidelines The Central Bank of Brazil, the economic authority of the South American country, has released a document where it specifies the general guidelines of a future....
In the end, this is still positive news coming out of Russia. An official acknowledgment of discussions taking place is better than nothing. A few days ago, news broke of Russia slowly taking a more positive stance toward bitcoin. It even seems bitcoin may gain legal status in the country. However, one of Russia’s central bankers is not convinced the outcome will be so positive. Legal recognition of cryptocurrency is not guaranteed, nor should anyone think otherwise. Cryptocurrency enthusiasts are well aware Russia will not embrace bitcoin all of a sudden. It is good to see the central....