Cryptocurrencies
Facebook’s Libra Marks End of Light Regulatory Touch on Digital Currencies
- ECB’s Coeure speaks in interview before G-7 stablecoin report
- International regulators plan to submit report in April 2020
Photographer: Thomas Trutschel/Getty Images
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A revolution is coming to central banks and it requires a fast response, according to the man charged by the world’s biggest economies with looking into the rise of digital currencies.
Benoit Coeure, speaking before the release of a Group of Seven report on so-called stablecoins -- virtual currencies pegged to real assets to limit their volatility -- urged swift action in setting the “highest regulatory standards” for private initiatives. He also said he’s “personally pretty sure” that digital tokens backed by public authorities will be part of the future.