A number of founding Libra members have dropped out following a letter from Congress.
The story is summed up well by the three Tweets featured on this page.
The main things to consider here are:
- How important are these founding members to Libra?
- How likely is it that Libra will be able to see a launch with the current regulatory pressure on them?
Something feels very un-american about this. Two senators writing to Visa, Mastercard, and Stripe to ask them to withdraw from Libra. https://t.co/U3Y7zkuCFB
— Brian Armstrong (@brian_armstrong) October 13, 2019
Booking Holdings drop out of Facebook's Libra too. Now Visa, Mastercard, Stripe, eBay, PayPal, Mercado Pago and Booking are all out. pic.twitter.com/3tOO1M3ZCH
— Larry Cermak (@lawmaster) October 14, 2019
U.S. Treasury Secretary Mnuchin said backers of Facebook’s Libra withdrew from the project, fearing it would not meet regulatory standards.
— CoinDesk (@coindesk) October 14, 2019