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Daily Tax Report: International

G-7 Has Serious Concerns About Facebook’s Libra Currency: Scholz

July 17, 2019, 1:36 PM

G-7 finance ministers and central bank governors have serious concerns about Facebook’s proposed Libra digital currency and “swift action” is required to address them, German Finance Minister Olaf Scholz told reporters at a G-7 meeting in Chantilly, France.

  • “We’ve discussed it very carefully. Libra is on everyone’s mind,” Scholz said July 17.
  • “The finance ministers and central bankers all have serious concerns on whether all rules have been followed and if regulations need to be changed to guarantee financial stability,” he added.
  • The finance minister said the “aim is to have a joint tax regulation. It’s about data safety and...
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