The Japanese authorities have decided, in turn, to consider the risks that Facebook's cryptocurrency would have on their monetary system.
In the family " I have doubts about the Libra ", we ask Japan! After Europe, the United States and China, it is the turn of the country of the rising sun, first-rate economic and digital power, to worry about the consequences that the virtual currency of Facebook could have on financial regulation. and the digital policy of the country of Japan.
Japan wants to take advantage of the G7 to get the message across
The Japanese authorities have decided, Reuters tells us, to start an investigation of the Libra by setting up a working group to study the effects of Mark Zuckerberg's cryptocurrency, before sharing his thoughts with next G7 summit, where will meet finance ministers in Biarritz on Wednesday.
The working group is made up of representatives of the Ministry of Finance, the Central Bank of Japan and the Financial Services Agency, the local financial services agency.
Libra does not reach consensus
The three institutions want to work hand-in-hand to regulate the Libra, whose launch is scheduled for the first half of 2020. They intend to discuss, with the other finance ministers, a real regulation of cryptocurrency, for fear of adverse effects on monetary policy, taxes and payments.
The Libra can not reach a consensus around him. States are worried about the massive means Facebook is deploying to allow users of its social networks Messenger, WhatsApp, and Instagram to send money directly, to settle orders on e-mail sites. trade partners, while totally excluding traditional banks.
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