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Stablecoin news for Tuesday the Group of Seven (G7) opposing the launch of Facebook’s Libra (NASDAQ: FB).
Pound is a stable currency that Facebook plans to launch, but which it probably couldn’t do because of the G7’s opposition. The main explanation for why this is that the G7 needs proper regulation over stable currencies before launch.
The G7, which consists of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States, has several considerations on the stable currency and the pound, including the following.
One segment of the G7 allocation that opposes the reading of the stable currency through Reuters is this.
“The G7 continues to argue that no comprehensive allocation of stable currencies will begin trading until it has adequately met the applicable legal, regulatory and supervisory needs through proper design and compliance with applicable standards. “
FB’s stock was largely not affected by stable currency news on Tuesday morning.
Stablecoin News’ message: Why the G7 needs the launch of Facebook Pound late, gave the first impression on InvestorPlace.