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Cryptocurrencies

China's bid for digital-yuan sphere raises red flags at G-7

Beijing-led economic zone would be immune to Western sanctions

G-7 nations are worried that China's digital yuan could be used to track people and suppress political opposition.   © Reuters

TOKYO -- Financial chiefs from the Group of Seven major economies will discuss rules for digital currencies issued by central banks, hoping to bring China's digital yuan into an international regulatory framework.

The G-7 finance ministers, who kicked off a two-day meeting in London on Friday, will sort out potential issues arising from state-issued digital currencies, with the aim of announcing new rules as soon as this fall.

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