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G7 finance chiefs pour cold water on Facebook's digital coin plans

Updated : July 18, 2019 03:35 PM IST

The massive social media company’s plan to launch a digital coin has met with a chorus from regulators, central bankers and governments saying it must respect anti-money-laundering rules and ensure the security of transactions and user data.
France, which chairs the Group of Seven advanced economies this year, has asked European Central Bank executive board member Benoit Coeure to set up a G7 task force to look into cryptocurrencies and digital coins like the Libra.
G7 finance chiefs pour cold water on Facebook's digital coin plans

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