The President of Facebook announced his intention to launch the digital currency "Libera" in Switzerland, where he sees a country that has appropriate regulations for this type of financial activity, but the outgoing Swiss President and Minister of Finance Olli Moreer had a different opinion.
"I do not think that Libera has an opportunity to succeed in its current form, because central banks will not accept the basket of currencies on which they are based," Maurer said in a statement to the Swiss radio station.
Facebook-led digital currency plans, to be issued and organized by the Libera Association in Geneva, have raised concerns among regulators and politicians, ranging from privacy to their ability to influence monetary policy and change the global financial landscape.
The officials who manage the project, including David Marcus, one of the founders of Facebook, said that regulatory hurdles could cause the launch to be postponed after the June deadline.
The cryptocurrency is backed by a reserve of assets, such as bank deposits and government debt held by a network of trustees, and this structure aims to foster confidence and avoid price fluctuations in other cryptocurrencies.