As we covered here a few times over the last few weeks, Facebook is having all kinds of problems with it’s partners in Libra.
Paypal dropped out and now the rest of the U.S. payment processing companies have dropped out.
TheVerge wrote:
The first to ditch Libra was Paypal, which withdrew on October 4th. Then, over the course of a few hours on October 11th, Visa, Mastercard, Stripe and Mercado Pago all bailed on the project, with eBay tagging along for good measure. That meant every major US payment processor has exited the association. (The final remaining payment processor, PayU, has not responded to multiple requests for comment.) It’s an alarming turnaround for the Facebook-backed project, and the first clear indication that Libra’s founders may have bitten off more than they can chew.
The author in the article on TheVerge.com believes that everyone dropped out ahead of the big meeting in Geneva where members of Libra would be signing their charter.
The processors cannot take the risk and as the article pointed out here, As Senators Schatz and Brown wrote to three of the departing companies, “Facebook appears to want the benefits of engaging in financial activities without the responsibility of being regulated as a financial services company.”
Looks like all those Libra domain registrations will be a write off for domain investors.
Well, you know what they say . . . always stay away from Libras.
People aren’t going to trust Facebook with money, especially government people. Libra has been dead for a while now.
Yet they trust Facebook with all their data and pictures, but not a virtual wallet? If anyone can make it work, I would think they have the eco system to do so.
Different when it comes to money.
Those who participate in any bitcoin schemes will be prosecuted….it is considered money laundering.
Lol Even the people who collected billions are only getting piddling fines, so that is not the case.
When they are put in jail and forfeit all the money to the controlling govt,then it will send a shockwave .
Money changes people.
Nobody should trust Mark Zuckerberg and Facebook… in fact, you might all want to deleted your account and stay away from him…
http://bdq.ca/facebook/
Told you Libra coin was BS
Seriously, Libra don’t need PayPal, Visa, Mastercard, Stripe etc……Libra can get all the biggest Neobanks and Fintech companies in the world and get together to innovate new global payment platform……
Who are they are how will the fare any better than PayPal and Visa? This project won’t ever happen. Dead.