Replace SWIFT with a global crypto payments network? THE G7 SAYS YES!!

in #cryptocurrency5 years ago

The prospective network has been approved for oversight by the Financial Action Task Force — a G7-initiated intergovernmental organization that promotes legal, regulatory and operational measures that aim to fight money laundering on a global scale.

Source
As Reuters notes, Anti Money Laundering (AML) compliance has loomed large in regulators’, central banks’ and governments’ scrutiny of Facebook’s plans to launch its own stablecoin, dubbed Libra.
Ahead of this week’s meeting of G7 finance ministers in France this week, Japan had set up a national liaison conference — involving the Bank of Japan, the Ministry of Finance and the FSA — tasked with investigating the impact of Libra on monetary policy and financial stability.

While plans are being kept firmly under wraps, the source alleged that Tokyo hopes to have the network established within the next few years.

Read the full article here

Sort:  

Slowly and slowly after libra thing bitcoin may find a way all over regulations

Coin Marketplace

STEEM 0.35
TRX 0.12
JST 0.039
BTC 70310.43
ETH 3568.34
USDT 1.00
SBD 4.73