The head of the Facebook-led Libra Association has responded to claims that the cryptocurrency project threatens financial stability.
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.