Mastercard, Visa and other financial partners being enlisted to oversee Facebook-backed cryptocurrency Libra are having second thoughts as regulators unleash ire on the project, according to a report Tuesday.
Visa referred AFP to comments made by chief executive Alfred Kelly in an interview in August with CNBC in which he said the company had signed a non-binding letter of intent with the association but was"not a member of anything." The head of the Libra Association said last week that the project's leaders aimed to"reassure" regulators worried about the virtual money.
Officials have also raised concerns about how the currency would be regulated, particularly how it would comply with regulations about combatting money laundering and financing of terrorism.
Source: Digital Coin News (digitalcoinnews.net)
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