G7 statement – Central bank cryptos could complement cash, and have further benefits

  


G7 finance leaders’ statement on central bank digital currency (CBDC)and
digital payment

  • innovation in digital money and payments can bring
    significant benefits but raises regulatory issues
  • CBDCcould complement cash, act as
    liquid, safe settlement asset and anchor for payments system
  • any CBDCshould be grounded in
    long-standing public commitments to transparency, rule of law and
    sound economic governance
  • any CBDCmust support and do no harm to
    ability of central banks to fulfil mandates for monetary and
    financial stability
  •  CBDCsmust operate in open, transparent
    and competitive environment that promotes choice and diversity in
    payment options
  • we recognise shared responsibility to
    minimise harmful spillovers to international monetary and financial
    system from cross-border payments via CBDC
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