De Galhau unveils G7 task force on ‘stablecoins’

François Villeroy de Galhau

François Villeroy de Galhau has announced the launch of a Group of Seven task force that will investigate the impact of so-called stablecoins.

In remarks on June 21, the Banque de France governor said the G7 task force would investigate both Facebook’s recently-launched Libra crypto asset and others that claim to achieve a stable value through a peg to a basket of more standard assets, such as government securities.

European Central Bank executive board member Benoît Cœuré will lead the group

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