Libra Association’s Crypto Members Remain Unfazed by Regulatory Backlash

Since first being announced in June, Facebook’s proposed Libra cryptocurrency has drawn the ire of lawmakers and regulators worldwide.

But, according to sources close the Libra Association, that was to be expected.

“We always knew this was something that was going to be hard,” one such source told CoinDesk.

However, some of the project’s founding 28 members – which include Visa, PayPal, Uber and other tech and payments giants – haven’t remained as steadfast in their commitment, according to recent media reports.

The Financial Times reported last week that two unnamed members of the Libra Association were considering pulling out of the project, citing the harsh glare of the “regulatory spotlight.”

Follow-up reporting by CoinDesk, however, has found that the Libra Association’s crypto contingent – Coinbase, Xapo, Anchorage and Bison Trails – remains publicly optimistic about the project.

Read More at CoinDesk


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