G7 urges tight regulations for digital currencies, agrees to tax digital giants locally - tech

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Friday, July 19, 2019

G7 urges tight regulations for digital currencies, agrees to tax digital giants locally

PARIS, FRANCE - JUNE 18: In this photo illustration, a visual representation of a digital cryptocurrency coin sits on display in front of a Facebook logo on June 17, 2019 in Paris, France. Facebook will announce Tuesday, June 18 the details of its cryptocurrency, called " Libra ". Like bitcoin, the best-known virtual currency, it will rely on blockchain technology. This universal currency must allow its users to buy products or services from the Facebook universe, which also owns Messenger, Instagram and WhatsApp. It will also be possible to transfer "Libras" between individuals. Several companies like Visa, MasterCard, PayPal and Uber have already joined the consortium created by Facebook. (Photo by Chesnot/Getty Images)
Digital currencies such as Facebook’s planned Libra raise serious concerns and must be regulated as tightly as possible, the G7 has urged.Read More
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