Last week at its annual meeting, the World Economic Forum (WEF) announced a digital currencies consortium focused on governance. The Global Consortium for Digital Currency Governance will work with regulators to devise policies for a more robust financial system.
Digital currencies and stablecoins are regarded as a tool for enabling financial inclusion. However, to fully realize their potential, proper governance must be developed in the current fragmented regulatory system. To this end, the WEF is trying to bring together companies, financial institutions, government representatives, technical experts, academics, international organizations, NGOs, and members of the Forum’s communities.
“Digital currency, a cross-cutting topic that requires input across sectors, functions, and geographies, is a key area of interest for the Forum,” said Klaus Schwab, Founder and Executive Chairman of the World Economic Forum.
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