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Swiss President: Libra has failed in current form

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Swiss President: Libra has failed in current form

The basket of assets backing Facebook’s Libra stable coin needs to change in order for the project to be accepted by regulators, according to Switzerland’s President.

Axar.az reports citing FXstreet.

“Central banks will not accept the basket of currencies underpinning it” - he added.

Swiss finance minister and outgoing president Ueli Maurer said that Libra won’t be approved because central banks won’t accept the basket of currencies behind it.

Date
2019.12.28 / 18:51
Author
Axar.az
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