August 27, 2019 / 8:36 AM / 25 days ago

Swiss National Bank in close contact with authorities on Libra

FILE PHOTO: Representations of virtual currency are displayed in front of the Libra logo in this illustration picture, June 21, 2019. REUTERS/Dado Ruvic/File Photo

ZURICH (Reuters) - Switzerland’s central bank is in close contact with relevant authorities over Facebook’s Geneva-based Libra cyptocurrency project, Swiss National Bank Vice-Chairman Fritz Zurbruegg said on Tuesday.

“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 at an event in Zurich, adding how regulators handle the project — both nationally and internationally — remained a critical point.

Reporting by Angelika Gruber; writing by Brenna Hughes Neghaiwi; Editing by Michael Shields

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