Facebook Libra Requested to Fulfill Important Scrutiny Before Starting its Cryptocurrency Services
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The Swiss financial market supervisory Authority (SFMSA) stated that Facebook should first fulfill the basic requirements before starting its cryptocurrency services
The regulator indicated that there are major issues which Facebook Libra project should fulfill before getting the Libra payment system license
These additional requirements, as stated by the Swiss financial market regulator include mainly
Risk concentration
Capital allocations
Liquidity
In addition, it is also indicated Facebook to pay attention for its Libra reserve before starting its various crypto services