U.S. Concerned About Libra After Meeting Swiss Regulators
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26 August
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Maxine Waters, a U.S. Democratic congresswoman, says she remains concerned about Libra, Facebook's stablecoin, after meeting Swiss regulators.

The congresswoman, who is the Chairwoman of the U.S. House Committee on Financial Services, has recently met regulators in Switzerland, where Libra has its headquarters, in an attempt to clarify the situation of Facebook's crypto.

However, she issued yesterday a press release after meeting the regulators in which she stated that these meetings have been "helpful in understanding the status, complexity, and magnitude of Facebook's plans." However, according to her, she is still worried about the fact that a giant like Facebook, whose user base is huge, can launch a privately controlled, alternative global currency.

Last week it was known that the congresswoman planned to visit the country to discuss the situation of Libra. Waters and her colleagues have reportedly met representatives from the State Secretariat for International Financial Matters (SIF), the Federal Data Protection and Information Commissioner (FDPIC), the Financial Market Supervisory Authority (FINMA), as well as other Swiss legislators.

Waters has had a very critical attitude toward's Facebook crypto project since the social network announced it on June 18.

Waters is not the only official concerned about Facebook's stablecoin. Since the social network announced its project back in June, regulators from all over the world have shown their concern about the stablecoin due to Facebook's influence.

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