Swiss President Ueli Maurer: 'Facebook' has failed with the digital currency Libra

 

 'Facebook' has failed with the digital currency Libra. This fact has been made clear by the President of Switzerland, Ueli Maurer, who points out that the project needs to be refined. “I don't think there is any possibility for Libra in its current form, because central banks will not accept it. The project, in this form, has failed,” Maurer said.

'Facebook' has sought Swiss legal support for digital currency. Meanwhile, the company has not commented on the Swiss president's statements. Plans for the Facebook digital currency, to be released and managed by the Geneva-based Libra Association, have raised concerns among regulators and politicians, ranging from privacy issues to its potential for privacy, influence monetary policy and change the financial situation in the world.

On the other hand, officials who run the project, including Facebook's senior manager David Marcus, have said regulatory hurdles could delay the release of the currency, scheduled for June 2020.