“No global stablecoin project should begin operation until it adequately addresses relevant legal, regulatory, and oversight requirements.”
In a draft of a statement expected to be released tomorrow, countries representing the world’s largest economies said that they would initially oppose the launch of Facebook’s Libra project.
According to an Oct. 12 report from Reuters, central bankers and finance ministers from the United States, Canada, Japan, Germany, France, Italy, and the U.K (also known as the Group of Seven, or G7), said it would halt global stablecoin projects pending appropriate regulatory oversight.
The draft stated:
“The G7 continues to maintain that no global stablecoin project should begin operation until it adequately addresses relevant legal, regulatory, and oversight requirements through appropriate design and by adhering to applicable standards.”
This story is developing and will be updated.
[…]
Learn more
The Tulip Prize [1] was awarded yesterday to François Villeroy de Galhau for a speech…
Senator Elizabeth Warren, supported by other senators, today introduced a bill titled the “Digital Asset…
President Volodymyr Zelensky today signed the “virtual assets” law adopted by the Ukrainian parliament on…
Joe Biden today signed an executive order asking the federal government to assess the risks…
After the implementation of the Ethereum blockchain in the consensus Proof-of-Stake model called “Beacon Chain”,…
It hung in the face of investors, this correction. And if the movements of Bitcoin…
Leave a Comment