Facebook’s chances of launching its own cryptocurrency, Libra, are growing ever slimmer. On Tuesday this week, it was reported that Visa, Mastercard, and PayPal were all reconsidering their involvement in Facebook’s scheme following regulatory scrutiny from lawmakers in both the U.S. and Europe. Yesterday, PayPal put a first nail in Libra’s coffin by announcing it would no longer be participating in the Libra Association. “PayPal has made the decision 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,” PayPal said in a statement to TechCrunch. “We remain supportive of Libra’s aspirations and look forward to continued dialogue on ways to work together in the future.
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