Copy link
Increase text size
Decrease text size
Link copied

Facebook's Libra to be discussed as U.S. delegates visit Switzerland

Mon, 19 Aug 2019, 09:51 am UTC

Facebook’s Libra cryptocurrency will be discussed as a delegation of the U.S. House of Representatives will pay a visit to Switzerland in the coming days.

According to local media outlet Soontag, six members of the House of Financial Services Committee will be meeting Swiss Federal Data Protection and Information Commissioner Adrian Lobsiger to exchange their views on digital currencies, particularly Libra.

Chairwoman of the House of Financial Services Committee Maxine Waters, who previously asked to halt the development of Facebook’s Libra, will reportedly head the delegation. The upcoming visit aims to make clear regulatory issues about Libra.

The report came after Facebook said Libra may never have the chance of seeing the light of day as it continues to face scrutiny from lawmakers and regulators.

There can be no assurance that Libra or our associated products and services will be made available in a timely manner, or at all,” the social media giant wrote in its latest quarterly report.

Other than regulatory hurdles, the social media giant also pointed out its lack of “significant prior experience with digital currency and blockchain technology” as a confounding factor of the project’s viability.

Ever since it was announced in June, Libra has faced political opposition globally. Even U.S. President Donald Trump himself lashed cryptocurrencies, saying they are “not money.”

Its latest skeptical contender is Australia, with Reserve Bank of Australia (RBA) Governor Philip Lowe saying “there are a lot of regulatory issues that need to be addressed and they’ve got to make sure there’s a solid business case, so we’ve got to be careful before we jump to conclusions.

Recently, representatives from different data protection and privacy enforcement authorities globally have also issued a joint statement on global privacy expectations of the Libra network.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $8,523.42 (-3.35%)
  • Ethereum (ETH) $218.40 (-4.29%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $303.71 (-6.36%)
  • Bitcoin SV (BSV) $214.61 (-5.41%)
  • Bitcoin (BTC) $8,523.42 (-3.35%)
Feb 21, 2020 (Friday)
12:01
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
12:00
Brazil to launch new payment system in response to cryptocurrencies
11:59
Digital currency exchange Coinbase Pro lists Kyber Network token
11:57
Norwegian Air to soon start accepting crypto payments
10:21
Swedish central bank begins CBDC pilot with Accenture
09:51
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
14:16
Telecom companies complete cross-carrier mobile payments using blockchain
11:53
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
11:00
South Korean ICO project discontinued, to return $7.5M to token holders
10:36
Samsung maintains crypto support in soon-to-launch Galaxy S20
09:41
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
09:15
Coinbase becomes first crypto company to receive Visa principal membership
08:59
Dubai Economy and six banks launch KYC Blockchain Consortium
08:26
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
07:12
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
06:13
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
05:02
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
04:56
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
04:35
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
12:46
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft