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No Facebook Talks With the Swiss Yet

3 min reading
The Swiss Still Discuss Cryptocurrencies

David Marcus, the leader of the Facebook project, Libra, confirmed that people responsible for this cryptocurrency are going to discuss its shape with the Swiss. Specifically speaking, the federal commissioner for personal data protection will be the person involved in the discussion.

David Marcus' activities

Probably some of the most important days are about to come for Libra, as there are ongoing hearings in the US Congress which are supposed to dissuade Facebook from the idea of cryptocurrency. David Marcus has repeatedly convinced politicians and lawyers about the purity of Mark Zuckerberg's (and other people's responsible for the project) intentions. If it will be impossible to convince the parliamentarians, reports indicate that Facebook will turn to Switzerland, much more favorable to cryptocurrencies. Nevertheless, there have been no talks on this matter yet which has been confirmed by the office of the Swiss Federal Data Protection and Information Commisioner (FDPIC).
We are aware of the fact that David Marcus is considering our help with the Libra project. To this day, however, we have not received any signals in this matter from the creators themselves.
- said Hugo Wyler, the director of communications at FDPIC, in an interview with CNBC. The portal confirms Wyler's words. It seems, therefore, that Marcus has referred to the help of the commissioner without the knowledge of Facebook itself.

Another source of help

Cooperation with FDPIC should be mainly related to personal data. It is certain, however, that the matter of the regulation of Libra is to be taken by the Swiss Financial Markets Supervisory Authority  (FINMA). Here, in turn, the talks have already been confirmed by both parties. The US legislators and political leaders agree that they are rather distrustful when it comes to the reliability of Libra. President Donald Trump himself expressed a critical opinion on Bitcoin, Libra and other cryptocurrencies. The remainder of this case remains a question of Congressional hearings which were scheduled for July 17.
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