Last night, a meeting of G 7 finance ministers was held in Paris to focus on how to control the potential risks posed by digital encrypted currencies such as the Facebook Libra. Speaking at a news conference, French Finance Minister Bruno Lemerre (Bruno Le Maire), the French finance minister, said at a news conference that companies could enjoy the same privileges as the state in creating means of payment, but there was no corresponding control and obligation, and the G7 opposed that view.
Lemer said: "We can't accept private companies to issue their own money without democratic control." G7 is mainly worried that Facebook's ambitions for digital currency may not only weaken their control over currency and banking policies, but also Bring security risks.
Benoit Coyle (Benoit Coeure), a member of the ECB board of directors, said: "stable currencies for retail purposes can provide faster and lower-cost remittance services, stimulate payment competition, thereby reducing costs and supporting greater financial inclusiveness. However, they also raise a number of risks related to public policy priorities, including anti-money-laundering and combating terrorist financing, consumer and data protection, fair competition and tax compliance. "
In addition, G7 also reached a consensus at this meeting, namely Google, Amazon, Facebook orappleLarge technology companies should be taxed in countries where they make money, even if they do not have physical offices in the local area.