US House of Reps Delegations Talk Crypto and Libra in Switzerland

By Katelyn James | August 19, 2019

Officials from the US House of Representatives will be travelling on a trip to Switzerland to discuss crypto-related matters, which particularly concentrates on the upcoming Facebook Libra stablecoin project.

Reported by NZZ am Sonntag on August 17, a team consists of 6 delegations from the House Financial Services Committee is visiting Switzerland, to participate in a meeting with Adrian Lobsiger – the Swiss Federal Data Protection and Information Commissioner (FDPIC) – to share perspectives regarding cryptocurrencies

NZZ am Sonntag disclosed that the talk will primarily revolves around Libra. Maxine Waters – chairwoman of the House Financial Services Committee – will be leading the US delegation group. Walters have reportedly requested Facebook to cease their ongoing Libra project until thorough analysis has been conducted.

The visit will mainly looks to resolving regulatory problems concerning Libra, as during the hearing sessions between Facebook and the House Financial Services Committee in July, several members of the House are troubled with the fact that Libra will be regulated from Switzerland.

David Marcus – one of Facebook leaders and head of project Calibra – ensures that they have been contacting the Swiss Financial Market Supervisory Authority regarding regulatory issues, while Hugo Wyler – FDPIC head of communications – claimed that no contact have been established whatsoever regarding Libra.

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