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Japan to Look Into the Impact of Facebook’s Libra Ahead of G7

Japanese authorities are investigating the impact of Facebook’s Libra stablecoin, The New York Times reported on July 12.

Per the report, Japanese authorities have set up a working group tasked with investigating the impact of Facebook’s stablecoin on monetary policy and financial stability. The working group will reportedly consist of the Bank of Japan, the Ministry of Finance and the Financial Services Agency and already started meeting this week.

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