G7 – the group of finance ministers and central bank governors of the most advanced economies asked Facebook to solve the legal and regulatory issues before moving forward with their digital coin Libra, as reported by Reuters.

The head of the European Central Bank has presented at the meeting a preliminary report drafted by the G7 task force established to analyse the crypto-currencies and digital coins.

The G7 members asked Facebook to obtain a banking licence if they want to take deposits with Libra.

It seems difficult to have consensus within G7 since Canada and UK have reservations and it seems more complicated to find agreement between the 129 OECD countries according to the French Finance Minister cited by Reuters.