leaders of the six Central banks and the Bank for international settlements (BIS) in mid-April in Washington will hold their first meeting on the development of their own digital currency that can serve as an alternative to Libra from Facebook or digital currency, the yuan, writes the Nikkei Asian Review.
the Central banks of Britain, Switzerland, Sweden, Canada and Japan, and the European Central Bank in January formed a working group with the BIS for a joint study of digital currencies by Central banks.
Central Banks strive to create standards that will govern the use of digital currencies for international payments between banks. Security will be another key topic for discussion.
Six of the Central banks plan to publish an interim report in June and final in the autumn.
meanwhile, experts urge China to cooperate with other countries to regulate the cryptocurrency, not the acceleration of the establishment of a private analogue of Libra.
BA Shusong, a former researcher from development Research center of the State Council of China, and now chief economist for China on the Hong Kong stock exchange, said that to monitor digital currencies such as Libra, a system controlled by the multilateral institution, since cryptocurrencies can change the global financial system and challenge the national monetary authorities.