PayPal has rescinded its agreement with the libra association , becoming the first one of 28 to pull money from the cryptocurrency . Facebook has faced regulatory scrutiny from both the US and France due to concerns over the impact its crypto could have on national currencies and the potential for money laundering , with both proposing to block it altogether . PayPal has become the first company to drop out of Facebook’s Libra cryptocurrency, as the embattled project continues to face queries from regulators around the world. Mastercard and Visa are also reconsidering their position and have set a meeting with representatives from all companies for 14 October .
PayPal has rescinded its agreement with the libra association , becoming the first one of 28 to pull money from the cryptocurrency . Facebook has faced regulatory scrutiny from both the US and France due to concerns over the impact its crypto could have on national currencies and the potential for money laundering , with both proposing to block it altogether . Mastercard and Visa are also reconsidering their position and have set a meeting with representatives from all companies for 14 October .