Regulators plot path for cross-border payments to counter Facebook

Streamlining anti-money laundering checks, longer central bank opening hours and linking national systems would cut cross-border payment costs, global regulators said on Monday.Payments have come under the spotlight since Facebook proposed its Libra digital stablecoin, prompting central banks to think about launching their own digital currency.A report by the Committee on Payments and Market Infrastructures said cross border payments are set to increase from $20 trillion in 2019 to $30 trillion