US delegation goes to Switzerland to discuss Libra

Posted 20 August, 2019

The US Senate is about to visit Switzerland to hold a meeting with local regulatory authorities regarding Facebook's crypto project Libra.

According to the media reports, Swiss regulatory authorities and the delegation of the US House of Representatives will hold a meeting to share their views concerning burning crypto project Libra.

The representatives of the Financial Service Committee want to meet Adrian Lobsiger, Swiss Federal Data Protection and Information Commissioner. The American group of six hope that they will manage to clear up regulatory issues regarding the Libra project.

The US delegation will be led by Maxine Waters, Chairman of Finance Services Committee of US Hous of Representatives. For reference, Waters was quite offensive towards the Libra claiming that the project must be suspended until all the risks would become clear.

In late July, Facebook stated that the project could be cancelled facing heavy pressure from the regulators. However, the company representatives also added that they did not plan to give up Libra and might take as much time as needed to convince the officials.

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