G7 finance ministers and central bank officials said on Thursday that Facebook’s digital currency, Libra, has raised serious concerns and must be monitored as tightly as possible to ensure they do not disrupt the global financial system. In addition, the finance ministers of various countries also agreed to impose a digital service tax on technology giants. French Finance Minister Lemaire (France is the rotating presidency of the G7) said at a news conference on Thursday that the G7 opposed the idea of companies that could create money like sovereign countries without even having to do so. The control does not assume the necessary responsibilities. Lemer said: "We cannot accept that private companies issue money in the absence of democratic control."