It’s not often that a project faces so many major league struggles before getting off the ground, but Mark Zuckerberg and Libra have made significant waves and received real backlash from the upper echelon of global financial and regulatory circles already. Whether it’s letters from the U.S. House of Representatives calling for a moratorium, flak from Donald Trump and U.S. lawmakers, or outright opposition from France and Germany, the project has had a tough row to hoe, and it’s not even launched yet.

The last thing needed now, presumably, would be for major members of the association to start dropping out. That seems to be just what’s happening though, according to reported statements issued by Paypal representatives who maintain the company has decided “to forgo further participation in the Libra Association at this time and to continue to focus on advancing our existing mission and business priorities as we strive to democratize access to financial services for underserved populations.”

The Libra Association’s head of policy and communications, Dante Disparte, reportedly told media outlet the Verge:

This journey to build a generational payment network like the Libra project is not an easy path. We recognize that change is hard, and that each organization that started this journey will have to make its own assessment of risks and rewards of being committed to seeing through the change that Libra promises.

Sourced through Scoop.it from: news.bitcoin.com