- Switzerland’s financial regulator FINMA are more concerned about projects outside of Libra
- The head of FINMA is nervous about the dark corner projects in the financial system associated with the crypto space.
The head of Switzerland’s financial regulator, FINMA, expressed fears outside of Facebook’s Libra. Noting that Switzerland has more concerns around the cryptocurrency projects developing outside of the Libra project, which is being handled with openness,
FINMA’s Head Branson said:
I am much more nervous about projects which develop in a dark corner in the financial system somewhere, spread themselves out through cyber space and one day are too big to be stopped.
Branson further added:
We are not here to make such projects impossible. We will respond to them with an open mind, with an attitude that same risks require same rules. Our rules and standards are non-negotiable.
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