<p>Fritz Zurbruegg, vice chairman of Swiss National Bank, the country’s central bank, has said that documents of Facebook’s proposed cryptocurrency, Libra, are “very vague.”</p> <p>The central bank is in close contact with relevant authorities, but “at the moment, it’s difficult to perform a full analysis (of the project) because the available documents are very vague and details are still missing,” Zurbruegg said, according to a Reuters <a href="https://www.reuters.com/article/us-swiss-facebook-libra/swiss-national-bank-in-close-contact-with-authorities-on-libra-idUSKCN1VH0S2">report</a> on Tuesday.</p> <p>The official made the comments at an event in Zurich city, adding that how national and global regulators handle the project remains a critical point.</p> <p><a href="https://www.theblockcrypto.com/tag/facebook-libra/"><span style="font-weight: 400;">Facebook</span></a> <a href="https://www.theblockcrypto.com/2019/06/18/facebook-libra-cryptocurrency-calibra-launch/"><span style="font-weight: 400;">announced</span></a> the Libra project in mid-June and has since faced intense regulatory scrutiny from around the world. Facebook's blockchain lead, David Marcus, recently assured <a href="https://www.theblockcrypto.com/2019/07/16/facebook-is-dangerous-senators-grill-facebooks-david-marcus-over-libra-in-2-hour-hearing/"><span style="font-weight: 400;">senators</span></a><span style="font-weight: 400;"> and other </span><a href="https://www.theblockcrypto.com/2019/07/17/facebooks-marcus-spends-second-day-defending-libra-on-capitol-hill/"><span style="font-weight: 400;">lawmakers</span></a> in the U.S. that Libra won't launch until all concerns are addressed.</p> <p>In other news, the Libra Association today launched a <a href="https://developers.libra.org/blog/">bug bounty program</a> for all, which pays up to $10,000 in rewards for discovering the “most critical” issues in the Libra blockchain network.</p>