G7 report: The central bank should consider issuing its own digital currency

On October 18th, a report from the Group of Seven (G7) warned that any stable currency project should not be operational until the challenges such as regulation are adequately addressed. In addition, the report also stated that the authorities should apply existing rules on payments and anti-money laundering, as well as capital markets and banking standards, to stable currencies. The central bank, the Ministry of Finance, and other authorities should work to address weaknesses in the payment system and include people who do not have access to banking services in the financial system. In addition, the central bank should consider issuing its own digital currency.