Libra filed a payment license application with the Swiss Financial Market Supervisory Authority, which will be reviewed according to the updated white paper

The Swiss Financial Market Supervisory Authority (FINMA) confirmed that it received a payment license application from the Libra Association, which will be reviewed according to the updated white paper. FINMA emphasized that since the project is globalized, a global coordination method is also required. Therefore, since handling the Libra project, FINMA has been in close contact with the Swiss National Bank and more than 20 regulatory agencies and central banks from around the world . FINMA stated that it will neither provide the latest information on the status of the application nor speculate when the process will be completed. Lianwen previously reported that FINMA received an evaluation request from the Libra Association for “Issuing Stable Coins under Swiss Regulatory Laws” last year. FINMA stated that Libra needs to obtain a payment system license first.