FILE IMAGE: Representations of virtual currency are to be displayed on the front of the monitor the logo in this illustration picture the 21 of June, 2019 at the latest. REUTERS/dado Ruvic
ZURICH (Reuters) – Switzerland’s privacy watchdog expects to receive data at Facebook’s Scale cryptocurrency by the end of this month, a spokeswoman for the agency said on Tuesday.
Facebook is to launch on the Scale of next year, have prompted warnings from politicians, regulators and central banks that must be closely regulated in order to avoid any disruption of the international financial system.
Facebook’s Scale is the project leader, David Marcus, told the US senators earlier this year, he expects the Swiss government to Balance privacy regulator, however, the Federal Data Protection and Information Commissioner (FDPIC) had at that time, it was not to be contacted, due to the Scale of the organisation.
The FDPIC is in July, early in the Scale’s Association, the Geneva-based group to oversee the proposed digital currency, for more information.
A spokeswoman for the FDPIC said the agency had set a deadline of the end of the month of August for the Association for the purpose of providing the requested information. She said that the Association had, at the end of July and promised a response.
The Scale, the Association not immediately respond to an email request for comment.
A U.S. congressional delegation to visit Switzerland, this week to discuss the project.
Reporting by Brenna Hughes Neghaiwi; Additional reporting by Tom Wilson; Editing by David Holmes