Swiss Central Bank In Close Contact With Facebook’s Libra, Affirms Documents Are Very Vague

The Swiss National Bank, known the central bank of the country, has recently contacted the responsible people for Facebook’s Libra project in order to know more about the project. Fritz Zurbruegg, the vice-chairman of the bank, has talked about the contact so far and claimed that the documents that back the project are very vague.

He deemed it hard to properly analyse the project at the moment, claiming that the documentation was lacked important details and that some documents were even missing. U. S. representatives recently visited the country and agreed: the project is, indeed, looking too vague and everybody still has several doubts about how it will work.

Maxime Water, a U. S. representative from California, affirmed that the lawmakers would continue to analyse the company until they were certain about its dangers and possibilities surrounding it.

The approval of the project will be a major point for regulators all around the world. Bitcoin is decentralized and not so widely used, so they can let it slide, but everybody knows that a cryptocurrency created by Facebook would change the world.

There are several interests at stake here, so everybody is threading very cautiously and Facebook will have to upgrade its strategy to be able to achieve the results that it wants.

The giant of social is certainly trying. While this is happening, Facebook is gearing up to hire lobbyists in order to convince the politicians to approve the project. A company called FS Vector was the latest one to be hired to convince people that Libra is good.