G7 to discuss digital currency standards, crypto regulation

Group of Seven (G7) advanced economies will consider how best to help developing countries introduce central bank digital currencies (CBDC) consistent with appropriate international standards, Japan’s top currency diplomat Masato Kanda said on Tuesday.

The move will be among key themes of G7 discussions that Japan chairs this year, as part of efforts to address challenges the global community face from fast-moving digital technology, he said.

“We have to address risks from the development of CBDC by ensuring factors such as appropriate transparency and sound governance,” Kanda, vice finance minister for international affairs, told a seminar in Washington.