G7 reach consensus to act on Facebook Libra currency

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(VOVWORLD) - The G7 group of the world's most developed economies have reached a consensus to act promptly to control Facebook's digital currency, Libra, which is planned to be circulated early next year.

During a meeting in France on Wednesday, G7 finance ministers and central bankers discussed the  development of  Facebook's  digital currency Libra which is said to likely affect the global financial system and challenge the role of US dollar, the world’s main reserve currency.

Addressing a press conference after the meeting, Bruno Le Maire, Finance Minister of France,  touched upon the potential risks of the currency once it is in circulation,including money laundering.