Facebook’s Libra cryptocurrency project has failed in its current form, says Swiss president

  • “The project, in this form, has thus failed,” Switzerland’s finance minister and outgoing president Ueli Maurer said.
  • Plans for the Facebook-led digital currency, which is to be issued and governed by the Geneva-based Libra Association, have raised concerns among regulators.
  • Officials running the project, including co-creator David Marcus of Facebook, have said regulatory hurdles could see the launch delayed beyond the planned June date.