Swiss say Facebook’s digital currency plan will face hurdles

GENEVA (AP) — Facebook and its partners have asked financial authorities in Switzerland to evaluate their plan to create a new digital currency to be called Libra.
Facebook unveiled a proposal in June to create a digital currency similar to Bitcoin for global use. The company said it would set up a nonprofit association headquartered in Geneva with its partners to oversee Libra, putting it under Swiss regulatory authority.
The Swiss Financial Market Supervisory Authority said Wednesday the