[CHANTILLY] Japanese Finance Minister Taro Aso on Wednesday urged his G7 counterparts to make a comprehensive assessment of Facebook Inc's Libra digital currency for any fresh challenges that could be overlooked by existing regulations.
Policymakers also fear widespread adoption of the digital currency by Facebook's 2.38 billion users could upend the financial system. "Most G7 members saw Libra as posing a serious problem from the perspective of consumer data protection and the impact on monetary policy," the official told reporters. Such concerns will be reflected in a chair country's statement to be issued by France after the conclusion of the G7 meeting, he added.
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
France says Facebook's Libra not yet viable as G7 minister meetFacebook's Libra digital coin project cannot go ahead in the form it has been presented so far, French Finance Minister Bruno Le Maire said on ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
France says G7 focused on containing risks of Facebook's LibraGroup of Seven finance ministers meeting in France this week will make it one of their priorities to contain the risks posed by new currencies ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
France urges G7 to find 'international solution' on digital taxesPARIS: French Finance Minister Bruno Le Maire on Tuesday (Jul 16) urged the G7 club of top world economic powers to find an international solution ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Facebook faces more scrutiny from Congress over Libra cryptocurrency planWASHINGTON: Facebook Inc faces more questioning by U.S. lawmakers on Wednesday over its planned cryptocurrency, after a bruising first bout when ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Facebook vows Libra currency will wait for approval as US airs worriesFacebook Inc said on Monday it would not proceed with the launch of its Libra cryptocurrency until regulatory concerns are addressed, as the U.S.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Facebook to face more scrutiny from Congress on LibraFacebook Inc will face more questioning on Wednesday by US lawmakers over its planned cryptocurrency after a bruising first bout when senators ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »