August 29 2019

Libra Deals in Swiss Congressman’s trip 🧀🇨🇭

In August 25 U.S. House Financial Services Committee Chairman Maxine Waters said, that after meeting with officials in Switzerland, she remains concerned about Facebook’s plans to create a global digital currency. 🤔

“Although I appreciate the time that Swiss government officials have given us, I remain concerned that a large technology company might create an alternative global, privately controlled currency.” – commented on the outcome of the trip, the American legislator.🔍

A group of six congressmen, led by Waters, met last week with officials from the State Secretariat for International Financial Affairs (SIF), the Federal Commissioner for Data and Information Protection (FDPIC), the financial market Supervisory Authority (FINMA), and Swiss lawmakers to discuss Facebook’s plans for its cryptographic project Libra. 🔥

The decision to meet with Swiss regulators was made after David Marcus, head of the Libra cryptographic project, said during a hearing in Congress that the Libra Association would be supervised by Swiss regulators.

In response, Waters, in her opening remarks at the congressional hearings, called Switzerland a country that has long been a financial haven for criminals and doji corporations 💣

Marcus then answered evasively, insisting that Switzerland’s choice had nothing to do with regulatory evasion, and Facebook’s goal was to choose a country that could assure an organization as an international effort.

“We would like Libra to be a digital global currency and, as a result, a single digital currency for the whole world. That’s why we think that was the right approach.” he explained. 🎈

Although Waters noted that Swiss officials helped understand the “status, complexity, and scale of Facebook plans,” she said she looked forward to continuing to review the cryptographic project within Congress.

In turn, Facebook launched a broad company to lobby its project among lawmakers. 🧀

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Posted 29.08.2019 by admin in category "Crypto World News