[CHANTILLY] Japanese Finance Minister Taro Aso on Wednesday urged his G7 counterparts to make a comprehensive assessment of Facebook Inc's Libra digital currency for any fresh challenges that could be overlooked by existing regulations.
Policymakers also fear widespread adoption of the digital currency by Facebook's 2.38 billion users could upend the financial system. "Most G7 members saw Libra as posing a serious problem from the perspective of consumer data protection and the impact on monetary policy," the official told reporters. Such concerns will be reflected in a chair country's statement to be issued by France after the conclusion of the G7 meeting, he added.
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