G7 nations are set to discuss the optimal approach to assisting developing countries in implementing central bank digital currencies (CBDCs) that adhere to appropriate international standards, according to Japan's Finance Ministry Treasurer, Makoto Kanda. As part of Japan's G7 presidency this year, this topic will be a critical focus in addressing global challenges stemming from the rapid evolution of digital technologies.

The collapse of the FTX cryptocurrency exchange in the previous year has underscored the need for cross-border regulation, serving as a wake-up call for policymakers, Kanda added. Furthermore, addressing the debt vulnerabilities of some middle-income countries will be another priority for G7 discussions this year.