G-7 finance chiefs meet online to discuss digital currency challenges

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TOKYO - The Group of Seven finance chiefs held a video conference Tuesday to discuss regulatory and other challenges concerning the issuance of digital currencies.

The finance ministers and central bank governors from Britain, Canada, France, Germany, Italy, Japan and the United States plus the European Union will also talk about the coronavirus pandemic and their responses to its economic impact, conference sources said. They will release a joint statement after the talks.

The move comes as the U.S., European and Japanese central banks are studying the possibility of issuing digital currencies, with similar developments being seen in the private sector, including Facebook Inc.'s proposed Libra stablecoin. No central banks in the G-7 economies have so far decided to issue digital currency. China, meanwhile, is set to take the lead.

 

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