Japan sets up working group on impact of Libra ahead of G7

Dawn | Jul 14, 2019 at 6:54 AM
  • Japanese authorities have set up a working group to discuss the impact Facebook’s proposed Libra digital coin could have on monetary policy and financial regulation, government sources said, ahead of a G7 finance leaders’ gathering where the topic will be high on the agenda.
  • France is using its presidency of the Group of 7 group of economic powers to launch a task force to look at how central banks can ensure digital currencies like Libra are regulated from money-laundering to consumer-protection rules.
  • In Japan, the central bank does not oversee banking regulation.