The Group Overseeing Facebook’s Libra Cryptocurrency Will Apply for a Payments License in Switzerland

Wednesday, September 11, 2019

By Elizabeth Schultze

The Libra Association, the organization in charge of overseeing Facebook’s proposed cryptocurrency, said Wednesday it will apply for a payments license in Switzerland.

The Geneva-based non-profit said in a press release it had submitted a request to the Swiss Financial Market Supervisory Authority (FINMA) to clarify how the libra coin will be regulated under Swiss rules. FINMA confirmed Wednesday it had received the Libra Association’s request.

Photo courtesy of fsecart.

Source: CNBC (link opens in a new window)

cryptocurrency, financial inclusion, regulations