The basket of assets backing Facebook’s Libra stablecoin needs to change in order for the project to be accepted by regulators, according to Switzerland’s President. “Central banks will not accept the basket of currencies underpinning it” Reuters reported on Dec. 27 that 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. He concluded: “The project, in this form, has thus failed.” Libra’s conflict with regulators Earlier this month, Libra’s whitepaper was updated to remove…
Facebook’s Libra Has Failed in Current Form, Says Swiss President
