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2019-08-19

American-Swiss Consultations On Libra

A delegation from the US House of Representatives will visit Switzerland due to problems with the cryptographic currency and the focus will be on Facebook Libra, which has not yet been released.

A six-person delegation from the House's Financial Services Committee will meet Swiss Federal Commissioner for Data Protection and Information Protection (FDPIC) Adrian Lobsiger to exchange views on digital currencies.

Libra will be the focal point of the dialogue between the regulator and the US legislators. The delegation is led by the chairwoman of the Parliament's Financial Services Committee, Maxine Waters, who had previously requested that Facebook suspend Libra's development until the alleged risks it poses are properly understood.

The US legislators' visit is aimed at clarifying the regulatory issues surrounding Libra. At hearings before the Financial Services Committee in July, some representatives expressed their dissatisfaction with the fact that the coin is regulated by Switzerland.