US Chamber assesses risks related to Libra launch

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The controversies over the upcoming launch of Facebook’s cryptocurrency , the Libra , have not stopped. At the latest news , a delegation from the US House of Representatives would have gone to Switzerland to discuss the project.

Libra would be at the heart of the discussions

After asking Facebook to halt the development of its cryptocurrency project, Maxine Waters, chair of the US House of Representatives Financial Services Committee, honors her promise by trying to study cryptocurrencies.

When she travels to Switzerland, she will be taking a team of six people, made up exclusively of members of the Chamber’s Financial Services Committee, to meet the Federal Commissioner for Data Protection and Information (FDP), Adrian Lobsiger.

Although the main objective of the meeting is the confrontation of opinions on crypto-currencies in general, the discussion on the launch of the Libra will be the heart of the matter.

Libra, a Swiss crypto-active?

Libra would be a Swiss digital currency, since the registration of the association Libra, the governing body of the stablecoin, will take place in the country.

According to David Marcus, the representative of Facebook, the choice of this country for the launch of the stablecoin could be explained by the fact that the Swiss legislation is the most favorable for the business compared to that of the other countries of the world.

However, the Financial Services Committee of the US House is somewhat upset by the fact that crypto-regulation is done in this country, hence the reason for this visit.

As a result, US lawmakers will hold a meeting with the regulator to clarify issues related to Libra regulation.

David Marcus claimed that Facebook had already contacted the PFPD for the registration of its cryptocurrency project. Curiously, Hugo Wyler, his communications manager, denied such an assertion and contacted the Libra officials directly to clarify the situation.

What do you think of the approach of the American Chamber? Comment in the comment section below.

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