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The G-7 Drafts 13-Point Principles For The Launching Of CBDC

by CBDC Insider
October 15, 2021
in Business
Reading Time: 1min read
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The G-7 Drafts 13-Point Principles For The Launching Of CBDC
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On October 11th, 2021, Kyodo News revealed that the Group of Seven industrialized nations (G-7) had created 13-point rules for launching Central Bank Digital Currencies (CBDC). The finance chiefs of the G-7 countries will meet in Washington on Wednesday 13th October to sign the agreement.

To solve a “sovereign matter,” the G-7 countries seek “a common set of principles, and underscoring the fundamental importance of shared values such as transparency, rule of law, and sound economic governance, these principles can guide and inform exploration of retail CBDC in the G-7 and beyond.”

The guiding principles for the CBDC are crucial, especially at this moment in time. The biggest concern is that Communist China is leading the global race to launch a CBDC. The development of the digital currency system could facilitate the totalitarian regime to rule over its economy and people.

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