search newsletter login upgrade

Facebook

US lawmakers to visit Switzerland to discuss Facebook’s Libra crypto project

August 19, 2019, 5:20AM EDT

A group of six U.S. lawmakers, led by Democratic Congresswoman Maxine Waters, is going to visit Switzerland in “the coming days” to discuss Facebook’s cryptocurrency project, Libra.

The group will hold a meeting with the Swiss Federal Data Protection and Information Commissioner Adrian Lobsiger, Bloomberg reported Sunday, citing a report from local news outlet NZZ am Sonntag.

Waters, who is also the Chairwoman of the U.S. House Committee on Financial Services, has strongly criticized the Libra project ever since it was announced in mid-June. Waters called for a halt in the development of the project last month, as well as said that Facebook has “demonstrated pattern of failing to keep consumer data private on a scale similar to Equifax.”

Facebook's blockchain lead, David Marcus, recently assured senators and lawmakers in the U.S. that Libra won't launch until all concerns are addressed. 

Related Reading