Swiss welcome scrutiny in handling Libra cyrptocurrency - watchdog

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Switzerland welcomes international scrutiny of the way it oversees the Facebook-led Libra cryptocurrency project and is ready to work with other ...

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ZURICH: Switzerland welcomes international scrutiny of the way it oversees the Facebook-led Libra cryptocurrency project and is ready to work with other countries to ensure seamless supervision, the top Swiss financial watchdog said.

It was ready to work with other countries taking a keen interest in Libra, as visits from top-level U.S. officials and warnings from the Group of Seven advanced economies have shown."A project of such a global dimension can be addressed only via international coordination and consultation with other supervisors and regulators," Branson said."It is illusory to believe a single country can regulate and oversee a project like Libra on its own.

"Our approach aims to regulate the crypto world in terms of money laundering the same as the conventional financial world. Our requirements here are among the strictest worldwide," Branson said.

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