• Sat, 21 Sep 2019, 11:30 AM
  • All times are UTC
  • Edition:
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.
  • Bitcoin (BTC) $10,047.20 (-1.29%)
  • Ethereum (ETH) $215.56 (-0.87%)
  • XRP (XRP) $0.290400 (-1.00%)
  • Bitcoin Cash (BCH) $311.52 (-2.07%)
  • Litecoin (LTC) $73.89 (-2.20%)
  • Bitcoin (BTC) $10,047.20 (-1.29%)
Sep 20, 2019 (Friday)
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
Crypto Technicals: LTC/USD Technical Analysis Summary
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Azerbaijan's State Customs Committee seeks to exchange information with global counterparts via blockchain
Coinbase considers listing 17 new digital assets including Kadena and Telegram
Crypto Technicals: ETH/USD consolidates previous session's gains, bias bullish above 200-DMA
US Congress’ upcoming hearing with SEC to focus on cryptocurrencies and Libra
Crypto Technicals: BTC/USD retraces from 3-week lows, resumes range trade, bias neutral
Square Crypto taps former Google, Facebook and Lightning Labs execs for inaugural developer team
Crypto Technicals: XTZ/USD struggles at 200-DMA resistance (1.1209), break above to see further gains
Bank of America joins blockchain-based trade finance network Marco Polo
Patrick Byrne sells off his $100M Overstock stake to buy cryptocurrencies, blames 'deep state' and SEC
Early ethereum supporter Steven Nerayoff faces $12M cryptocurrency extortion charges
Crypto trader Genesis acquires Qu Capital to bolster trading technology
Crypto Technicals: IOT/USD Technical Analysis Summary
Pakistan's Faysal Bank becomes the country's first bank to adopt Ripple's xCurrent technology
All 7-Eleven stores in the Philippines now sell bitcoin, thanks to the new partnership of Abra, ECPay
Arab Bank Switzerland partners with Taurus to offer cryptocurrency services to its wealthy clients
IBM, Citibank, Ubisoft signed up as corporate partners of Singapore's blockchain accelerator Tribe
Sep 19, 2019 (Thursday)
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.