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Technology

PayPal abandons Facebook-backed Libra cryptocurrency group

No longer be part of an alliance intended to oversee the Facebook-backed Libra cryptocurrency. We remain suppo
Published October 4, 2019
  • No longer be part of an alliance intended to oversee the Facebook-backed Libra cryptocurrency.
  • We remain supportive of Libra's aspirations and look forward to continued dialogue on ways to work together in the future.

SAN FRANCISCO: Pioneering digital payments firm PayPal on Friday said it will no longer be part of an alliance intended to oversee the Facebook-backed Libra cryptocurrency, which has come under attack by regulators.

"PayPal has made the decision to forgo further participation in the Libra Association at this time," the California-based company said in response to an AFP inquiry.

"We remain supportive of Libra's aspirations and look forward to continued dialogue on ways to work together in the future."

 

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