G7 finance officials endorse principles for central bank digital currencies

Economy12 minutes ago (Oct 13, 2021 09:16PM ET)

(C) Reuters. A representation of the virtual cryptocurrency Bitcoin is seen in this picture illustration taken June 14, 2021. REUTERS/Edgar Su/Illustration

WASHINGTON (Reuters) – G7 finance officials on Wednesday endorsed 13 public policy principles for central bank digital currencies, saying such currencies should be grounded in transparency, the rule of law and sound economic governance, the Treasury Department said.

“Innovation in digital money and payments has the potential to bring significant benefits but also raises considerable public policy and regulatory issues,” Group of Seven finance ministers and central bankers said in a joint statement.

“Strong international coordination and cooperation on these issues helps to ensure that public and private sector innovation will deliver domestic and cross-border benefits while being safe for users and the wider financial system.”

G7 finance officials endorse principles for central bank digital currencies

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