reading the whitepaper , it seems everything will be managed by the swiss company. facebook is just one of the partners.
[As another user mentioned, the company that makes the wallet is US based and will enforce sanctions. But maybe that means that another of the partners can make a wallet to use in sanctioned countries?]
The better question is "Why does Facebook think that being based in Switzerland will protect them?
It's been a while since Swiss banks were last immune to U.S. government pressure. Or even pressure from other countries. I can't bother to find the links now, but there were a couple of stories during Obama's time, about the US government arresting people based on their financial transactions in Switzerland.
