Salem Radio Network News Thursday, October 21, 2021

Business

G7 statement: central bank digital currencies must ‘do no harm’ to central bank mandates

WASHINGTON (Reuters) – Group of Seven advanced economies said any digital currency a central bank issues must “support and do no harm” to the bank’s ability to fulfill its mandate on monetary and financial stability.

“Any central bank digital currency (CBDC) should be grounded in long-standing public commitments to transparency, rule of law and sound economic governance,” the G7 finance leaders said in a statement released after their meeting on Wednesday.

(Reporting by Leika Kihara in Tokyo; Editing by Christopher Cushing)

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