libra

Announcement was made by Dr Sumera Shams on Twitter

Prospect of stablecoin being used by billions of people has galvanised central banks into putting together rules

Central banks set out to regulate cross-border stablecoins like Facebook’s planned Libra with a common approach

The G20’s Financial Stability Board set out 10 recommendations for an international approach to regulating stablecoins

Concerns from regulators and politicians over privacy to its potential to influence monetary policy

'The goal of Libra is to build a global payment system rather than a currency'

Says it would not launch without approval from regulators

Facebook unveiled Libra in June as part of its push into e-commerce and global payments

Says it will forgo further participation in group, focus on its own core businesses

And would instead focus on its own core businesses