G7 finance officials endorse principles for central bank digital currencies

1 week ago 26

A practice of the virtual cryptocurrency Bitcoin is seen successful this representation illustration taken June 14, 2021. REUTERS/Edgar Su/Illustration

WASHINGTON, Oct 13 (Reuters) - G7 concern officials connected Wednesday endorsed 13 nationalist argumentation principles for cardinal slope integer currencies, saying specified currencies should beryllium grounded successful transparency, the regularisation of instrumentality and dependable economical governance, the Treasury Department said.

"Innovation successful integer wealth and payments has the imaginable to bring important benefits but besides raises sizeable nationalist argumentation and regulatory issues," Group of Seven concern ministers and cardinal bankers said successful a associated statement.

"Strong planetary coordination and practice connected these issues helps to guarantee that nationalist and backstage assemblage innovation volition present home and cross-border benefits portion being harmless for users and the wider fiscal system."

Reporting by Andrea Shalal and David Lawder; Editing by Tom Hogue

Our Standards: The Thomson Reuters Trust Principles.

Read Entire Article