Libra

PayPal, an electronic payment system operator, has officially confirmed its refusal to participate in the Libra digital currency project, which is being developed by the social network Facebook. A statement to withdraw from the Libra Association was distributed by PayPal on Friday, October 4. The company did not name the reasons for the refusal to participate in the project, noting only that it intends to continue to focus “on promoting the current mission […]

Representatives of the payment company PayPal did not attend a meeting with members of the Libra Association in Washington, where they discussed a strategy for cooperation with regulators amid fierce criticism of the project. PayPal on the verge of quitting Facebook's Libra project https://t.co/JJps99kJmt – Financial Times (@FT) October 3, 2019 According to the Financial Times, only PayPal was not present at the meeting, although it was previously reported, […]

EU competition commissioner Margret Westagher has launched an investigation into the digital currency project from Facebook. Her concerns are caused by the potentially anti-competitive nature of Libra. The EU's antitrust chief is scrutinizing Facebook's planned cryptocurrency because of the risk that Libra will lead to the creation of a new, entirely separate economy https://t.co/39DLuiBxwN – Bloomberg Crypto (@crypto) October […]

The chief economist of the Dutch bank ING Mark Cliffmeit expressed the opinion that the central banks of various countries will launch full-featured digital currencies (CBDC) only after two to three years. According to him, the Facebook Libra project, which is about to be launched in 2020, is putting pressure on monetary regulators, prompting them to seriously think about the CBDC release. Thus, the central banks of various countries do not […]