Ever since the announcement of its launch, Libra has faced a series of bad news coming its way and this streak continues as more bad news comes their way. The companies involved in backing up the project are having second thoughts about their involvement in the project.
David Marcus, head of Libra, stated that the report suggests apprehension as Visa and Mastercard have informed that they won’t be supporting the project publically. On the other hand, PayPal and Stripe Inc. are also second-guessing their membership with the project. The reason behind this sudden shift in thoughts is the regulatory scrutiny that Libra is facing from the past few months.
Is Libra rolling out soon?
The way different governments and central banks have opposed the plan; it looks like the answer will be ‘no’ to the question as mentioned above. On the other hand, the company is still positive about its June 2020 launch deadline, and they will work hard to clear the regulations.
Both Bitcoin and Facebook’s stock prices saw a surge when the initial announcement was made. Bitcoin witnessed a bull market as well, but the price for both the assets has come back to earlier levels.
Marcus informed that official statements regarding the members would be made in a few weeks as many backers have been questioning their association with the project because of the regulators and issues faced by Libra.