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Swiss president has strong views of the Facebook developed cryptocurrency, Libra. Ueli Maurer, Switzerland’s finance minister, and outgoing president commented on the Libra calling it as a Failed Project. According to him, “I don’t think (It has a chance in its current form), because central banks will not accept the basket of currencies underpinning it.” Ueli further states that currency needs rework.
Libra has been seeing regulatory hurdles since its whitepaper inception.
Facebook-led digital currency is currently seeking regulatory consent in Switzerland. But it seems the hurdles are still the same. It will be interesting to see what this Facebook-led digital currency has still in store for itself.