A U.S. lawmaker said her concerns with Facebookâs Libra cryptocurrency project remain after meeting regulators in Switzerland, where the social media giantâs Libra Association is headquartered.
Congresswoman Maxine Waters (D-CA), who also heads the House Financial Services Committee, said in a statement on Sunday her recent meetings left her with doubts over âallowing a large tech company to create a privately controlled, alternative global currency.â
While the meetings were âhelpful in understanding the status, complexity and magnitude of Facebookâs plans,â Waters added:
âI look forward to continuing our Congressional delegation, examining these issues, money laundering, and other matters within the Committeeâs jurisdiction.â
Led by Waters, a group of six members from the U.S. House of Representativesâ Financial Services Committee met last week with officials 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 Swiss legislators, to discuss Facebookâs plans for Libra.
Watersâ statement came just days after she revealed a schedule for fall 2019, where she pledged to continue the review of Libra and the wallet service developed by Facebookâs subsidiary Calibra.
She has been critical of Facebookâs Libra plan since the social media giant announced the move in June. Waters called for a âmoratoriumâ on Libraâs development during a TV appearance on CNBC.
U.S. Representative Maxine Waters image via Shutterstock