G7 Finance Officials Outline Policy Principles for Retail CBDCs

G7 Finance Officials Outline Policy Principles for Retail CBDCs
G7 finance officials outlined a set of 13 public policy principles for the development of central bank digital currencies (CBDCs).Any CBDC must “do no harm” to central banks’ ability to maintain monetary and financial stability, the finance officials of the seven countries (U.K, U.S, France, Germany, Italy, Canada, Japan) said in a joint statement on Wednesday.CBDCs must “be grounded in our long-standing public commitments to transparency, the rule of law and sound economic governance.”CBDCs should also exist with other conventional means of payment such as cash to promote a competitive environment and be a catalyst for digital economy innovation in…