Members of the Big Seven (G7) will discuss the concept of government cryptocurrencies and digital taxation at their next meeting on Friday 12 February.
Japanese Finance Minister Taro Aso said G7 finance leaders will discuss central bank digital currencies at the G7 meeting this week. The meeting will be chaired by the UK, representatives of the world’s largest economies intend to discuss strategies for overcoming the global economic crisis caused by the coronavirus pandemic.
The meeting on Friday will begin with a discussion of government cryptocurrencies. G7 members will also discuss the implementation of digital taxation and new debt problems. The G7 is an intergovernmental organization that includes the United States, Canada, France, Germany, Italy, Japan and the United Kingdom.
Recall that last February, representatives of the ruling Liberal Democratic Party of Japan urged G7 members to respond to plans to launch the digital yuan in China through cooperation in research on crypto assets.
Over the year, China has made significant progress in developing its own cryptocurrency and brought the digital yuan to the final stages of testing. This week, the Agricultural Bank of China branch in China’s Hebei province unveiled a hardware wallet for the People’s Bank of China (PBOC) digital currency.
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