Libra Beleagured by Hawkish Regulators
Libra set a goal to launch in early 2020, but regulatory disapproval and hawkish comments from central banks shook confidence in the project. One by one, the founding members of the Libra Association started to sign off, with PayPal leaving first. Signs of the intentions to leave the Association were heard often in the past week before the decisions were finally made.
Then, in a single day, a handful of payment processors decided against participation. VISA, MasterCard, Stripe, and eBay all offer a different approach to payment systems, working on their own regulatory limitations. Libra, on the other hand, is still in the testnet stage and seen as too much risk at this point.
Bitcoin pioneer, Nick Szabo underlined the fact that BTC is still way ahead of the game.
Bitcoin works infinitely better as a medium of exchange than de facto banned vaporware.
— Nick Szabo