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BREAKING NEWS

Swiss privacy office wants details on Facebook's Libra crypto project

Swiss privacy office wants details on Facebook's Libra crypto project
FILE PHOTO: Small toy figures are seen on representations of virtual currency in front of the Libra logo in this illustration picture, June 21, 2019. REUTERS/Dado Ruvic/Illustration/File Photo -
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Dado Ruvic(Reuters)
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ZURICH (Reuters) – Switzerland’s privacy watchdog said on Tuesday it has yet to receive a reply to a July 17 letter seeking details about Facebook’s Swiss-based Libra cryptocurrency project, adding it needs the information to determine its oversight role.

“The Federal Data Protection and Information Commissioner (FDPIC) has noted the remarks made by Mr. David Marcus at his hearing before a U.S. Senate committee,” the watchdog said in a statement. “The FDPIC stated in his letter that as he had not received any indication on what personal data may be processed, the Libra Association should inform him of the current status of the project so that he could assess the extent to which his advisory competences and supervisory powers would apply.”

Marcus, who oversees Facebook’s blockchain efforts, said earlier this month at the Senate hearing that he expected the FDPIC commissioner to be Libra’s privacy regulator because the Libra Association is headquartered in Geneva.

(Reporting by John Miller; editing by David Evans)

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