Swiss president: The current form of Facebook's Libra has 'failed'

Facebook's Libra stablecoin has failed in its current form, according to Swiss president Ueli Maurer.

In an interview with Swiss broadcaster SRF, Maurer stated that Libra does not have a chance of being successful "because the basket of currencies that is deposited in this currency is not accepted by the national [central] banks."

"The project in this form has actually failed," Maurer added.

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