Facebook's Libra has failed in current form - Swiss president

Facebook'sLibra project has failed in its current form and needs reworking to be approved, said the president of Switzerland where the cryptocurrency is seeking regulatory consent."I don't think (Libra has a chance in its current form), because central banks will not accept the basket of currencies underpinning it," Ueli Maurer, who is Switzerland's finance minister and outgoing president, told Swiss broadcaster SRF.Libra did not immediately respond to a request for comment.