France Initiates G7 Task Force to Regulate Facebook-like Cryptocurrencies
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June 21, 2019
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France has called upon the creation of the G7 task force to monitor how central banks' control over cryptos like Facebook’s Libra is conducted in terms of the money-laundering policy, Reuters reports.

Governor of the Bank of France, Francois Villeroy de Galhau, noted that the task force would be led by Benoit Coeure, a European Central Bank board member.

Earlier this week, Facebook presented its own cryptocurrency called Libra as a part of the expansion of its digital asset all over the world.

At press time, project Libra has 28 partners, including Mastercard/VISA, Uber, PayPal and many more.

Villeroy claims the main idea is to combine being open to innovation with firmness on regulation.

"This is in everyone’s interest," Villeroy added.

In addition to that, Governor of the Bank of England, Mark Carney, believes Facebook's Libra digital asset will definitely face the highest standards of regulation

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