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After Switzerland Visit, Crypto Concerns Remain for US Regulators

Following a visit to Switzerland to meet with the country’s financial regulators, United States lawmakers are still concerned over Facebook’s proposed cryptocurrency project, Libra.


Meetings with multiple agencies


According to an official statement from Representative Maxine Waters, members of the U.S. House of Representatives Financial Services Committee met with multiple regulatory agencies and lawmakers. These included the State Secretariat for International Financial Matters, the Federal Data Protection and Information Commissioner and the Financial Market Supervisory Authority.


As announced earlier this month, the representatives aimed to clarify how various Swiss authorities would regulate Libra and learn more about the status and magnitude of the project. Despite being helpful, Waters said of the meetings:


“While I appreciate the time that the Swiss government officials took to meet with us, my concerns remain with allowing a large tech company to create a privately controlled, alternative global currency.” Read More at CoinTelegraph...

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