The U.S. urged Switzerland to ensure its regulations governing cryptocurrencies are strong enough to prevent abuse, as the European banking hub prepares to host Libra, a digital currency proposed by Facebook Inc.
The U.S. Treasury, along with other government officials and central bank officials, have raised questions about the Libra currency, which Facebook proposed earlier this year as part of a digital-payments system it plans to base partly in Geneva, and take mainstream to its more than two billion users.
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