Facebook’s plans to launch a new global digital currency drew an immediate response from regulators on Tuesday, with the Group of Seven nations saying it would set up a high-level forum to examine the risks of such currencies to the financial system.
The G7 working group will also consider how to ensure proper controls against money-laundering, according to a letter from Bruno Le Maire, the French finance minister, and François Villeroy de Galhau, the governor of the Banque de France. The French hold the rotating presidency of the G7.
Central banks and the International Monetary Fund will also participate, according to the letter, which was seen by the Financial Times.
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