US Delegation Will Visit Switzerland to Discuss Crypto and Libra

Andrew Cummings
August 20, 2019

Facebook plans to launch its digital currency sometime in 2020 but even if there's still a while to go before you can begin trading with it, that doesn't mean that other companies haven't already taken it into consideration, such as ZenGo.

The delegation will reportedly meet with the Swiss Federal Data Protection and Information Commissioner, Adrian Lobsiger, to discuss digital currencies and exchange views regarding them.

A delegation of U.S. lawmakers, led by Representative Maxine Waters, will be in Switzerland this week, on a trip that may have been spurned by Facebook's decision to domicile it's Libra cryptocurrency project in a nation known for both progressive financial policies and money-laundering, NZZ am Sonntag reports.

The visit by United States legislators aims to clarify the legal issues surrounding Libra.

In addition to making the trip to Switzerland, Walters serves as Chairwoman of the US House Committee on Financial Services. Previously the wallet launched a proof-of-concept particularly designed for Libra, making it the first wallet to support Facebook's cryptocurrency.

The Gemini founders revealed that they have been considering joining the Libra Association, a new governance consortium for Facebook's impending crypto.

However, less than 24 hours after Marcus made this claim, FDPIC spokesperson Hugo Wyler said that his organization had not been approached by any member of the Libra project.

"The FDPIC stated in his letter that as he had not received any indication on what personal data may be processed, the Libra Association should inform him of the current status of the project so that he could assess the extent to which his advisory competences and supervisory powers would apply".

Rasmus Pihl is a writer for Toshi Times by day and an avid follower of the cryptocurrency industry by night.

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