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The group overseeing Facebook's libra cryptocurrency will apply for a payments license in Switzerland
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. The news indicates the Libra Association is doubling down on its decision to make Switzerland its main supervisory authority, despite some pushback from U.S. lawmakers and ... (full story)