LONDON: Facebook's Libra cryptocurrency faces a pivotal meeting of backers on Monday , days after the would-be digital coin project suffered a severe blow asMastercard and Visa abandoned the Geneva-based Libra Association on Friday, as did eBay , fintech startup Stripe and payments company Mercado Pago.Politicians and regulators from the United States to Europe have said that Libra risks upsetting global financial stability, undermining users' privacy and facilitating money laundering.
Libra said this month it would give details after the meeting of the 1,500"entities" that have indicated"enthusiastic interest" to take part in the project.
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