Facebook opens Swiss office for its Libra crypto

So far Facebook has been fairly discreet regarding the dissemination of its own plans for investing in cryptocurrencies and blockchains. There is nothing to be surprised, on the other hand: a more transparent approach could have increased speculation on the market and new criticisms of Mark Zuckerberg's group, especially in a context in which the discipline on virtual currencies and cryptocurrency payments is unclear. However, as you know, this has certainly not prevented the United States Senate committee that deals with the banking sector from sending an open letter to the founder of Facebook, asking for details on his plan to criptovaluta, Called Pound.

In addition, according to what was recently reported by a Reuters press release, the CEOs of the Facebook divisions WhatsApp, Instagram and Messengers have been subjected to privacy controls. Numerous signs that therefore seem to converge about the possibility that Facebook has serious intentions to accelerate its plans for development in this sector.

Facebook Libra Networks

Moreover, according to what has emerged in the last few hours, Facebook would have registered the 'Libra Networks' in Geneva, Switzerland, thus becoming a stakeholder of a company whose purpose is to provide financial and technological services and develop related hardware and software. Also according to Reuters, the company registration was made on May 2, 2019.

Another further clue that could point to a Libra project launch in 2019 is the fact that Facebook has followed up on a wave of hires for its new Facebook blockchain team, which can already boast more than 40 members in the FinTech sector. He also took a more forgiving stance on advertising cryptocurrency projects and blockchain on his social media platform, which he had previously (almost) banned.

But why did Facebook choose to start its project in Europe and not, as would have been more natural, in the United States? Did Mark Zuckerberg feel that regulation would have been less favorable in the US?