WASHINGTON/BERLIN: Finance ministers and central bankers from the Group of Seven advanced economies strongly supported the need to regulate digital currencies, the US Treasury Department said in a statement on Monday after a virtual meeting of the officials.after the meeting, underscoring his concerns about authorising the launch of Facebook's Libra cryptocurrency - newly renamed Diem - in Germany and Europe."A wolf in sheep's clothing is still a wolf," he said.
US Treasury Secretary Steven Mnuchin hosted the 12th meeting of the G7 finance officials this year related to the COVID-19 pandemic as Washington prepares to hand over the presidency of the G7 to Britain next month. The G7 officials reiterated their support for a G7 joint statement on digital payment in October, which said digital payments could improve access to financial services and cut inefficiencies and costs, but should be"appropriately supervised and regulated."