The G7 inter-governmental political forum is the latest global body to highlight the need for digital currency regulations, imploring the FSB to establish the regulations quickly.
Finance ministers of the G7 countries have reached an agreed position on 13 public policy principles for central bank digital currencies, in a move that could pave the way for greater adoption of CBDCs across the world’s leading economies.
Prime Minister Chung Sye-kyung said the vaccine passport is built on blockchain technology to ensure security from possible identity theft.
There has been no sign of slowing down for the digital currency industry as the recent G7 meeting concluded that world governments agree on digital assets regulations.
Facebook has been threatened with legal action after rebranding its Libra stablecoin to “Diem,” following objections from a finance startup with the same name.
Finance ministers and central bank governors from across the Group of 7 countries discussed crypto assets and their increasing role in the global financial system.
Financial regulators in the world’s seven biggest economies will continue to oppose the launch of Facebook’s digital currency Libra until proper regulations are in place.