Visa, Mastercard, and other Companies Deny to Participate in the Libra

Corporations Visa and Mastercard, as well as a number of other financial companies, are going to refuse to cooperate with Facebook in the development of electronic currency Libra. This was reported on October 1 by The Wall Street Journal, citing sources.

According to them, the reason for the likely denial of funding was American and European authorities pressure on developing digital currency Libra.

US Treasury Secretary Steven Mnuchin said in July that the US administration is “extremely concerned that Libra could be used by money launderers and terrorist financiers.”

US President Donald Trump said that, in his opinion, that Libra will have “low stability and reliability”. G7 finance ministers said Libra could negatively affect the functioning of the international monetary system.

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