The French finance minister has said the nation plans to block Facebook's Libra cryptocurrency in the EU over its threat to national currencies.
FINMA's director has spoken out about the risks of working with a major project like Facebook's Libra, and said there are also potential benefits.
The non-profit set up to run Facebook's Libra cryptocurrency project is seeking to apply for licensing as a payment system in Switzerland.
Facebook's Libra and other cryptocurrencies operating in the U.S. must meet regulatory requirements to tackle financial crimes, the official said.
The PBoC's new digital currency chief has said its upcoming digital yuan has features not offered by Facebook Libra.
Yves Mersch has warned of the threat posed by Facebook's Libra to monetary policy and consumers in the EU.
Several backers of Facebook's Libra cryptocurrency project are said to be considering backing out due to growing "pushback" from regulators.
Facebook is reportedly already under investigation by the EU over antitrust issues related to its Libra cryptocurrency project.
Congresswoman Maxine Waters and other U.S. lawmakers will discuss Facebook's crypto project with the Swiss data privacy chief this week.
Retail giant Walmart has applied for a cryptocurrency patent that bears some similarities to the Libra token proposed by Facebook in mid-June.