De Galhau unveils G7 task force on ‘stablecoins’

Banque de France governor says group will weigh up impact of Libra and other “stable” crypto assets

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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