Libra project documents are vague: SNB’s Zurbruegg
|- SNB is in close contact with other authorities regarding Libra.
- Lack of comprehensive documentation making it hard to analyze Libra.
Swiss National Bank's Zurbruegg says that currently there is close contact “between various authorities on Libra cryptocurrency project.” SNB reckons that at the moment Facebook’s proposed cryptocurrency is a hard nut to crack. This follows the lack of comprehensive documentation. The vague documentation makes it difficult to analyze Libra as a project.
As reported on Monday, United States lawmakers are still in doubt regarding Facebook and the intended crypto. In fact, an official visit to Switzerland to discuss the project with the regulators in the country did little to clear the skepticism.
Facebook is facing the regulatory blowback because of its tainted history with violations of customer data. Moreover, the potential the project has raises eyebrows on the power Facebook could have on the global economy.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.