Haruhiko Kuroda, head of the central bank of Japan, called for international cooperation to regulate stablecoins like Facebook’s Libra
“If Libra is launched, it will have a huge impact on the whole society,” Reuters quoted a Japanese official as saying.
Speaking at a conference in Osaka (Japan), Kuroda said that the highest degree of regulation should be applied to such stablecoins (this phrase is often heard in relation to Libra).
As far back as September, Segal Mandelker, U.S. Under Secretary of the Treasury for Counter-Terrorism and Financial Intelligence, said almost the same thing, saying that before the launch, the Libra coin would have to meet the highest American regulatory standards.
In July, a working group set up by G7 countries to study issues related to Libra stated that in order to minimize the use of digital currencies in money laundering and terrorist financing, the rules must be applied to the highest standards.
Around the same time, Japan created a working group that began to study the issues that arose in connection with the launch of this cryptocurrency project.