G7 Forming Task Force in Response to Facebook’s Libra Cryptocurrency
France is setting up a task force within the Group of Seven nations to examine regulatory issues raised by Facebook's Libra cryptocurrency.
Stablecoins pose a money laundering and terrorist financing risk to the world, the FATF said Friday.
A new report says bitcoin has failed as a means of payment or store of value, but stablecoins like Libra are a risk to financial stability.
The working group will pool research into CBDCs.
The G7 group of nations has warned of the threat posed by stablecoins such as Facebook's Libra and set out draft recommendations for regulation.
Japan has set up a working group to examine the issues raised by Facebook's Libra cryptocurrency project ahead of a G7 meeting this week.