PayPal Representatives Did Not Attend Libra Association Meeting

Representatives of PayPal did not visit the Libra Association partners meeting in Washington. The topic of the event was the strategy for cooperation with regulators amid intense criticism of the project.

PayPal on the verge of quitting Facebook’s Libra project

— Financial Times (@FT) October 3, 2019

According to the information received, only PayPal representatives were absent on the meeting, although earlier it was reported that Visa, Mastercard, and Stripe wanted to leave the consortium. PayPal allegedly believes that Facebook has not done enough to meet the requirements of regulators in the AML field. Note that the development of Libra is now led by former vice president of PayPal David Marcus. Many former company managers are also involved in the project. Recall that earlier the European Commission launched an antitrust investigation against Libra, and Germany passed legislation banning the development of such initiatives.