“Companies are leaving Libra due to regulatory issues”

Companies are leaving Libra due to regulatory issues

US Treasury Secretary Steven Mnuchin said companies are leaving the Libra project because of potential regulatory issues.

“If they do not meet our anti-money laundering standards and FinCEN standards, then we can take certain actions against such companies. I think that they realized that they’re simply not ready, they don’t correspond to the level, and I suppose that they thought about this project and decided to leave it until they meet our standards, ” noted Mnuchin.

Recall that in recent days several companies announced the withdrawal from the project. First, PayPal confirmed its refusal, and then Visa, Mastercard, eBay, Stripe and Mercado Pago announced their withdrawal from the association. Perhaps the withdrawal of so many companies from the Libra association is due to the call of US senators who asked payment firms to reconsider their plans to participate in the project.

“I think this behavior is not very American. Two senators wrote to Visa, Mastercard and Stripe asking them to leave the Libra project, ”- reported Coinbase cryptocurrency exchange CEO Brian Armstrong on Twitter.


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