The G7 countries are discussing tighter cryptocurrency regulation and ways to assist developing nations in introducing central bank digital currencies (CBDCs) consistent with international standards. Masato Kanda, Japan's Vice Minister of Finance for International Affairs, stated that the discussions will address challenges posed by digital technology, including cyber-security, misinformation, social and political divides, and destabilizing financial markets.
The G7 will consider how to help developing countries introduce CBDCs with appropriate transparency and sound governance, while also prioritizing regulation of crypto assets. The U.S. has not yet decided whether to launch a digital dollar, with the Fed's CBDC still in the early stages of experimentation.
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