Altcoin News: US Lawmakers Visit Switzerland to Discuss Cryptocurrency Regulation

August 19, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

A delegation from the US House of Representatives will visit Switzerland to discuss the issue of cryptocurrency regulation, writes the Cointelegraph with reference to the local publication NZZ am Sonntag.

According to them, a six-member delegation will meet with the federal commissioner for data and information protection Adrian Lobsiger to exchange views on digital currencies with him. The main topic of discussion will be the Facebook-developed cryptocurrency Libra.

The delegation is led by the chairman of the financial services committee, Maxine Waters, who had earlier called on Facebook to suspend Libra development while regulators are exploring the risks involved.

During the visit, US lawmakers intend to clarify a number of issues related to the regulation of Libra. At the July hearings, some of them expressed concern that the project was registered in Switzerland.

In the same month, the Swiss Federal Commissioner for Data and Information Protection said that they had not received a response to his request to Libra despite the fact that he was registered in the jurisdiction controlled by them.

Shortly before this, Facebook announced that it would not launch the Libra cryptocurrency until it “completely eliminated all the doubts of the regulators.”

Author: Marko Vidrih