LONDON/WASHINGTON (Reuters) – Facebook’s plans to launch its Libra cryptocurrency faced a new hurdle on Thursday when the Group of Seven wealthy nations said such “stablecoins” should not be allowed to launch until the profound international risks they pose are addressed. When launched on a wide scale, stablecoins – digital currencies usually backed by traditional money and other assets – could threaten the world’s monetary system and financial stability, a G7 working group said in a report to finance ministers gathered in Washington for the IMF and World Bank fall meetings. The emerging technology, which like other cryptocurrencies …read more
Source:: Yahoo Finance
