saying it must respect anti-money-laundering rules and ensure the security of transactions and user data.
“I am convinced that we must act quickly and that cannot go ahead without all legal and regulatory questions being resolved,” Scholz told journalists. Central bankers say that if Facebook wants to take deposits, it needs a banking licence, which would subject it to the strict regulation that goes with operating in that industry.
“If the Libra is aspiring to be used globally, countries must seek a globally co-ordinated response,” Kuroda said.G7 finance ministers are also concerned about how best to tax big tech companies, with France keen to use its presidency of the two-day meeting to get broad support for ensuring minimum corporate taxation.
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