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G20 Lays New Regulations For Digital Payments

Digital currency has taken over the market and continues its growth across various countries. The world of digital currency has welcomed new firms which are laying the foundation and establishing themselves in the market.

In another significant development digital currency can be a part for G20 members. According to a report in Kyodo News, officials revealed that the G20 summit compromising representatives from 19 countries and the European Union will be laying the groundwork to accept digital payments.

The report also mentioned October as target month. It can take place at the G20 Finance Ministerial and Deputies Meetings in Washington DC and before the next summit in Riyadh in November.

Another Japanese media claimed that G20 officials enacted the policy change in response to China’s progress on creating a digital yuan. Meanwhile social media giants Facebook anticipated the release of Lira.

Cointelegraph reports that in June that the People’s Bank of China’s National Council for Social Security announced the completion of the backend architecture development for the country’s central bank digital currency (CBDC).

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