A G7 task force reports that stablecoins, such as Facebook’s Libra, present significant risk to the global financial system but also have potential in the field of payments.
On Oct. 18, in a report requested by the G7 Finance Ministers and central bank Governors, the relevant task force confirmed that the group of the seven wealthiest nations would not allow any global stablecoin to launch without adequately addressing the related challenges and risks. Cointelegraph reported on an unpublished draft of the same report on Oct. 14. The full report reads: