G-7 calls for "highest standards"of regulation on Libra

The Group of Seven industrialized nations on Thursday called for ensuring "the highest standards of financial regulation" over Facebook Inc.'s proposed digital currency Libra to prevent potential money laundering, terrorist financing and other unlawful activity.In a summary released after a two-day meeting in Chantilly, France, the G-7 finance ministers and central bank governors expressed "serious regulatory and systemic concerns" about the Facebook project, casting doubt on the social media giant's plan to create a cryptocurrency-based payment system as early as next year.The G-7 will coo…READ FULL ARTICLE