The President of the Swiss Confederation Ueli Maurer in an interview with Swiss broadcaster SRF said that Facebook's cryptocurrency Libra has failed in its current form.
Maurer says Libra is not doing well because the basket of currencies that is deposited with this currency is not accepted by the national banks.
"The project in this form has actually failed," Maurer added.
Back in 2018, Maurer rejected a possible special blockchain law developed by Liechtenstein. Back then, the federal government wanted to consolidate a new technology and its possible use in current legislation.
Previously iHodl reported that one of the largest Swiss private banks Arab Bank Switzerland announced the launch of cryptocurrency coin custody service.
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