Japanese Finance Minister Taro Aso said the seven finance leaders will discuss central bank digital currencies during a February 12 meeting.
The UK will chair a meeting where representatives from the world’s largest economies will discuss strategies for coping with the global economic crisis caused by the coronavirus pandemic.
Friday’s meeting starts with the topic of central bank currencies, but the minister indicated that the G7 will also discuss the introduction of digital taxation and new debt problems.
The G7, or G7, is an intergovernmental organization made up of the United States, Canada, France, Germany, Italy, Japan and the United Kingdom.
A group of seven countries recently pushed for the priority of regulating digital currencies when the organization reiterated its October announcement and called for a meeting last month for tough legislation to regulate the digital payments sector.
The October statement also indicated that central bankers of central banks can achieve significant savings through efficiency gains and reduce friction in the payment sectors in the G7 countries.
The G7 meeting is taking place at a time when China is making great strides in its Blockchain Service Network, or BSN, and Big Four consulting firm Ernst & Young announced that it will be distributing two blockchain-based products for BSN last week. BSN is the first blockchain network developed and maintained by the central government of China.