Visa and MasterCard abandoned Facebook's cryptocurrency project

Facebook's project to create its own cryptocurrency Libra Association continues to lose partners. their exit from the project Visa, MasterCard, Stripe and EBay announced . At the same time, representatives of the companies said that they had not lost faith in the project and were ready to return to it at later stages of development. On Friday, the US Securities Commission banned the issuance of another cryptocurrency - Pavel Durov's TON.

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• All partners of the Libra project have decided to freeze their participation until issues with regulators in the United States are resolved. Previously, the same decision was made by PayPal. A Visa spokesperson specifically emphasized that the company will continue to monitor the cryptocurrency and its valuation. It will depend on whether the Libra Association complies with all US law requirements.
• Head of Blockchain at Facebook David Markus thanked the partners and said he respects their "decision to wait until there is clear regulatory clarity." In the meantime, the coalition of 28 companies that have joined the Libra project is shrinking. Of the payment systems in cryptocurrency, Mercadopago and PayU are interested, which are not going to leave the project. Uber and Lyft also confirmed their participation in the development of the Facebook cryptocurrency.
• The American Congress held hearings in July with David Marcus. During the meeting, the companies recalled past mistakes. Donald Trump also spoke negatively about Libra. He believes that “unregulated crypto assets contribute to crime, including drug trafficking.”

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