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Crypto-friendly Switzerland Outclasses U.S. as Facebook Libra’s Regulator

Switzerland crypto laws have appealed to blockchain enthusiasts for years. Facebook’s head of blockchain, David Marcus, is no exception. He released a statement announcing that he expects the new coin to be governed by Swiss law.“Because the (Libra) Association is headquartered in Geneva, it will be supervised by the Swiss Financial Markets Supervisory Authority (FINMA). We have had preliminary discussions with FINMA and expect to engage with them on an appropriate regulatory framework for the Libra Association.”Marcus went on to state that the association intends to register with the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN). Questions remain. Why did Libra choose to headquarter in Switzerland? What are the main differences between Switzerland’s crypto laws

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