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G7 finance officials endorse principles for central bank digital currencies By Reuters


© Reuters. The illustration below shows a representation of Bitcoin, a virtual currency. This picture was taken June 14, 2021. REUTERS/Edgar Su/Illustration

WASHINGTON (Reuters), – G7 financial officials on Wednesday endorsed thirteen public policy principles to central bank digital currencies. These currencies should be based on transparency, rule of law, and sound economic governance.

Group of Seven finance ministers, central bankers stated in joint statements that innovation in digital money and payment has significant potential but can also bring about substantial public policy and regulatory problems.

“Strong international cooperation in these areas helps ensure that innovation from the public and private sectors will yield domestic and trans-border benefits, while also being secure for consumers and the larger financial system.”

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