September 24, 2019 / 7:11 AM / a month ago

BOJ Kuroda urges global cooperation in regulating Facebook's Libra

FILE PHOTO: A small toy figure stands on representations of virtual currency in front of the Libra logo in this illustration picture, June 21, 2019. REUTERS/Dado Ruvic/Illustration

OSAKA (Reuters) - Bank of Japan Governor Haruhiko Kuroda said on Tuesday that international cooperation was crucial in regulating stable coins such as Facebook’s planned Libra digital currency.

“If Libra is introduced, it could have a huge impact on society,” Kuroda told business leaders in Osaka, western Japan, adding that policymakers must thus ensure that they apply the highest level of regulation to such stable coins.

Reporting by Leika Kihara; Editing by Chris Gallagher

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