Facebook's Libra cryptocurrency faces a pivotal meeting of backers on Monda...
The exodus followed warnings from politicians and regulators, from the United States to Europe, that Libra risked upsetting global financial stability, undermining users’ privacy and facilitating money laundering.
At the meeting, which will take place in Geneva, members will agree interim articles of association, said a spokesman for Vodafone , one of the highest-profile companies remaining in the project. The Libra Association will also appoint a board at the meeting, the Wall Street Journal reported this month.The group said this month that it would give details after the meeting of the 1,500 “entities” that have indicated “enthusiastic interest” to take part in the project.
But the departure of major financial firms meaning it can no longer count on a global player to help consumers turn their currency into Libra and facilitate transactions. This presents a new stumbling block for Libra’s efforts to convince regulators and politicians about the coin’s safety.
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