The RBA's payment system board will closely follow Facebook's global cryptocurrency program

According to Finance Feeds, on August 16th, one of the two boards of Reserve Bank Of Australia, the Payment System Board, released the latest news about the August 2019 meeting. The Payments Systems Committee is responsible for the Reserve Bank's payment system policy, including policies related to clearing and settlement facilities. The Board discussed Facebook's proposal to introduce "global cryptocurrency" and Facebook's new subsidiary to provide digital wallet services. "Bank staff will Continue to coordinate with relevant national and overseas regulatory agencies to ensure that any payment system impact is properly addressed before any launch."