PayPal, which owns the payment system of the same name, has announced its intention to leave the Libra Association, an organization that plans to launch a new Libra cryptocurrency. Recall that earlier that many members of the Libra Association, including Visa and Mastercard, decided to reconsider the possibility of their participation in the project to launch a digital currency created by Facebook.
PayPal representatives have announced that the company will withdraw from further participation in the Libra launch project, focusing on the development of its core business. "We will continue to support Libra's commitment and look forward to continued dialogue to work together in the future," PayPal said in a statement.
In response, the Libra Association said it was aware of the challenges facing its attempts to "reconfigure" the financial system. βChanges that rewire the financial system to people and not the organizations that serve them will be difficult. For us, commitment to this mission is more important than anything else. It is better to learn about the lack of commitment now than in the future,β the Libra Association said in a statement. Facebook representatives declined to comment on the matter.
Facebook, along with other members of the Libra Association, intended to launch the digital currency in June 2020. The project quickly ran into problems as regulators around the world were skeptical about the emergence of a new digital currency. It is possible that the project participants will be forced to postpone the launch of Libra if they do not manage to solve all the problems before the previously planned deadline.
Source: 3dnews.ru