UBS CEO welcomes cryptocurrency advances but urges caution
ZURICH: Switzerland should welcome innovation in cryptocurrencies but needs to be on guard against potential abuses by criminals, UBS Group Chief Executive Sergio Ermotti told a panel discussion on Tuesday.
“On balance (a) positive development, but watch out,” he said when asked how he felt about the new Swiss-based Libra cryptocurrency project led by Facebook.
Ermotti was speaking at a banking conference arranged by the Swiss Finance Institute.
(Reporting by Michael Shields; Editing by Jan Harvey)