Gold Goes Digital, While Facebook Loses Backing
EBay, Stripe, Mastercard and Visa are all dropping out of Facebook’s libra cryptocurrency project, the companies announced Friday. The news comes one week after PayPal announced its withdrawal as government regulators continue to scrutinize the plans.
Facebook has tried to mitigate lawmakers’ fears of libra in part by assuring them that Facebook would not have unilateral control of the currency.
This should be no surprise, as history has shown, the government does not like competition.
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