G7 Presses CBDC, Cross-Border Payment Work; Disparages Stablecoin
G7 finance ministers today released policy-setting statements on digital payments and CBDC. Building on recent BIS work (see Client Report CBDC6) essentially endorsing retail-facing CBDC, the G7 points to CBDC’s considerable benefits as long as the questions also addressed by the BIS are successfully answered in member jurisdictions.
Global Climate-Risk Disclosures Advance
The FSB’s Task Force on Climate-related Financial Disclosures (TCFD) today reported that private-sector adoption of TCFD-aligned disclosures is accelerating, with over fifty percent of firms now disclosing climate-related risks and opportunities.
Cash-Acceptance Mandate Faces GOP Opposition
Continuing debate on the merits of mandating cash acceptance (see Client Report MERGER7), HFSC’s Oversight Subcommittee Chairman Green (D-TX) and Ranking Member Emmer (R-MN) remain diametrically opposed to mandating acceptance.