23/08/19 22:00 UTC-4

Out: Libra founders are preparing an "escape" from the project

CryptocurrencyLibra Association members are scared of regulators
Libra Association members are scared of regulators

The Libra Association (the organization that should develop Facebook’s cryptocurrency) has 28 members. They include such giants as Visa and Uber. Now at least 3 members are trying to get out of the project because of criticism from regulators.

 

Libra Association may lose several members

According to Financial Times, at least 3 Libra Association members are considering how to distance themselves from the project. The newspaper does not specify who is going to abandon the project exactly but states it is all because of regulators’ criticism that has hit Libra around the world.

"I think it will be very difficult for partners who want to work in accordance with the rules [of their regulators] to support [Libra]," said one of the founders of the Libra Association to the Financial Times.

According to the newspaper’s sources, Facebook is "annoyed" that members of the Libra Association do not support the cryptocurrency openly.

Interesting in the section: The GiveCrypto project extends a helping hand to those in need

Editor: Godfrid Brower

See also: "Ahead of the planet: Rwanda's Central Bank thinks about cryptocurrency issue"

#Libra #LibraAssociation #Facebook #Cryptocurrency #Regulation

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