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The G7 leaders’ meeting showed the future of digital central bank names

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G7 countries
G7 countries. Source: Google

An important meeting was held in Washington on 13 October financial leaders of the G7 countries who discussed the future of digital currencies of central banks.

G7 meeting

The financial representatives of the seven strongest economies in the world discussed the future of digital currencies, which will create central banks. According to the latest information, G7 officials have agreed that the digital currencies of central banks will not in any way jeopardize laws and standards.

The G7 countries are Canada, France, Germany, Italy, Japan, the UK and the USA. The official statement after the meeting reads as follows:

“Strong international coordination and cooperation on these issues helps to ensure that innovation in the public and private sectors brings various domestic and foreign benefits, while being secure for users and the wider financial system.”

Digital currencies will replenish cash

All digital currencies issued by the relevant central bank will be effective replenish cash. In addition, they should function as safe and liquid assets. The main goal remains to ensure the lowest possible energy intensity.

G7 leaders also agreed on accountability. They have jointly committed themselves to ensuring that digital currencies do not cause any negative side effects for international monetary system.

So far, none of these countries has officially decided to launch their own digital currencies. When it comes to development and technology, that’s it nearest UK.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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