Global financial regulators risk falling behind on rapid innovation in the digital payments industry and need to work more quickly to devise rules for crypto-currencies or “stablecoins”, the chair of a global finance watchdog said on Wednesday. Central banks are worried that Facebook’s (FB.O) plans to launch its Libra digital currency could reduce state control over money around the world. “FSB (Financial Stability Board) members recognise the speed of innovation in the area of digital payments, including so-called ‘stablecoins’, FSB Chair Randal Quarles said in a letter to finance ministers and central banks from ... (full story)