The international community should foster use of electronic money across borders, according to a Group of 10 study released Wednesday.
National policies on electronic money vary among the G-10 countries, so authorities should better coordinate their efforts to facilitate retail payments globally, the report said.
However, the world does not need another body coordinating electronic money policy, the study concluded. Many technologies require more time to develop, and other bodies such as the Basel Committee on Banking Supervision are already focused on electronic money, the G-10 report said.
Regarding law enforcement, the G-10 countries do not yet recommend developing new anti-crime laws specifically aimed at electronic money because most transactions are small consumer expenditures, the report said.