PayPal gave up Facebook cryptocurrency project

PayPal gave up Facebook cryptocurrency project

Less than a week after the rumors about the doubts of Visa and Mastercard in their participation in the Facebook cryptocurrency project, PayPal Holdings made public the resignation of the Libra Association, which means a blow to the efforts of the cryptocurrency which aims to develop the social network of Mark Zuckerberg.

The announcement of the payment company is in the midst of the anxiety that has generated the pressure exerted by regulators in the United States towards the project of the digital currency of Facebook.

On the other hand, central banks, governments and regulators of several countries have expressed their opposition to cryptocurrency, anxious about its regulation system and the company's bad reputation regarding confidentiality and custody of personal data.

Dante Disparte, head of politics and communications of the Libra Association, confirmed PayPal's decision and also said that the first meeting of the Libra Council will take place on October 14. "This trip to build a generational payment network like the pound project is not an easy road," he said in a statement.