Group of 7 members met in Japan, where they discussed CBDCs and crypto regulation, with an eye towards quickly implementing the “travel rule” for crypto assets.
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The G7 committee recently met in Niigata, Japan, to discuss, among other topics, the global financial implications for central bank digital currencies (CBDCs) and the laws governing the transfer of cryptocurrency assets.
In a communique summarizing the discussions, the committee reiterated its support for developing CBDCs with the caveat that further investigation was needed to ensure they are grounded in “transparency, the rule of law, sound economic governance, cyber security and data protection.”
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The communique described the International Monetary Fund’s (IMF’s) work in developing a “CBDC Handbook” as “welcome,” and said the G7 committee
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