US Lawmakers to Discuss Facebook Libra on Swiss Visit: Report

Congresswoman Maxine Waters and other U.S. lawmakers will discuss Facebook's crypto project with the Swiss data privacy chief this week.

AccessTimeIconAug 19, 2019 at 12:40 p.m. UTC
Updated Sep 13, 2021 at 11:21 a.m. UTC

A delegation of U.S. lawmakers is set to discuss Facebook's Libra cryptocurrency project with the Swiss data privacy chief when they visit the country this week.

Local news source NZZ am Sonntag said Saturday that a six-member group from the U.S. House of Representatives' Financial Services Committee plans to meet Adrian Lobsiger, the Swiss Federal Data Protection and Information Commissioner, to discuss Facebook's plans for Libra in the country.

Congresswoman Maxine Waters, a Democrat who has been outspoken in her opposition to the Libra project will lead the delegation. Waters previously called for Facebook to halt development of the Libra Network until hearings could be held over potential regulatory issues. She's also told CNBC:

“It’s very important for [Facebook] to stop right now what they’re doing so that we can get a handle on this,” Waters said in mid-June. “We’ve got to protect our consumers. We just can’t allow them to go to Switzerland with all of its associates and begin to compete with the dollar.”

Lobsiger may well have things to say on Facebook when the group arrives. The commissioner released a statement on July 23, saying that even though Facebook Libra's controlling entity, the Libra Association, is set up in Switzerland, the social media giant had not responded to a request for more information on the cryptocurrency project.

Among the expected details on Libra, Lobsiger said his office was expecting an impact assessment of risks around data protection, as well as an evaluation of the risks and proposed countermeasures.

Maxine Waters at Facebook hearing via CoinDesk archives 


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.