Switzerland discussions fail to clear US skepticism on Facebook’s Libra

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Congresswoman Maxine Waters (D-CA), the chair of the House Financial Services Committee says that the recent discussions with Switzerland regulators did little to clear the doubts she has with Facebook’s proposed digital asset Libra. The Libra Association is based in Switzerland.

Waters said that the discussions were indeed “helpful in understanding the status, complexity, and magnitude of Facebook’s plans.”

She added:

“I look forward to continuing our Congressional delegation, examining these issues, money laundering, and other matters within the Committee’s jurisdiction.”

The discussions were attended by Waters and six other members of the U.S. House of Representatives’ Financial Services Committee and officials from the State Secretariat for International Financial Matters (SIF), the Federal Data Protection and Information Commissioner (FDPIC). Other parties attending the meetings were the Financial Market Supervisory Authority (FINMA), and Swiss legislators.

 

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