WEF creates a consortium to oversee cryptocurrencies

The World Economic Forum announced the creation of a consortium focused around the governance of the digital currencies.

In a statement, the WEF said that the Global Consortium for Digital Currency Governance aimed to "increase access to the financial system through innovative, inclusive and interoperable policy solutions".

According to the non-profit foundation founded in Geneva in 1971, crypto-currencies, especially stablecoins, are seen as a way to improve financial inclusion, but this opportunity can only be created if it is combined with a good governance.

Thus, large financial institutions and companies, politicians, academics, developers and members of the Forum will pool their efforts to think a governance framework solid for digital assets.

Governance is the backbone of any form of digital currency, "said Mark Carney, Governor of the Bank of England.

The CEO of Calibra and member of the board of directors of Libra, David Marcus, welcomed the establishment of this initiative, while stressing the need "for good regulation For the success and adoption of digital currencies.

Digital currencies are a great opportunity to make the financial system more accessible and fairer, ”added Neha Narula, director of the Digital Currency Initiative at the Massachusetts Institute of Technology (MIT).