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Visa and Mastercard may leave Libra Association

The giants Mastercard and Visa, as well as a number of other companies, are revising their participation in the consortium for supporting the cryptocurrency project Libra from Facebook, unable to withstand criticism of the project by the American authorities. This was reported on Tuesday by the business publication Wall Street Journal.

Members of the Libra Association will meet tomorrow, October 3, in Washington. However, it is not entirely clear why the meeting is being held; members of the Association should discuss the charter of Libra in mid-October.

David Marcus, head of the Libra project, immediately responded to the news:

  1. Officially, the first wave of Libra Association members will be announced in the coming weeks.
  2. Changing this scale is difficult and takes courage + it will be a long way. For Libra to succeed, it needs loyal members, and although I don’t know what specific organizations plan to stop participating, mission commitment is most important

Marcus also noted that part of the article on WSJ, which refers to Libra’s reluctance to share information on protecting network privacy, is untrue.


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