The Swiss central bank acknowledges that documentation for Facebook’s cryptocurrency project, Libra, is still ambiguous and lacking core details that would help regulators reach a consensus on its use. Employees from both Libra and Swiss financial regulators would need to work together more closely to ensure compliance.
Fritz Zurbruegg, Vice President of the National Bank of Switzerland, said that it is in close contact with the relevant departments of the Libra project, which is based in Geneva.
Zurbruegg said at an event in Zurich that “At this time, it is challenging to analyze Libra thoroughly because the current documents are vague and lack essential details.”
