RATE Group | U.S. Warns Visa, Mastercard to ‘Proceed With Caution’ Regarding Libra
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U.S. Warns Visa, Mastercard to ‘Proceed With Caution’ Regarding Libra

12 Oct U.S. Warns Visa, Mastercard to ‘Proceed With Caution’ Regarding Libra

Posted at 03:54h in Bitcoin News by

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U.S. Warns Visa, Mastercard to 'Proceed With Caution' Regarding Libra

In the wake of Paypal’s very public exit from the Libra project, U.S. lawmakers are now pressuring Stripe, Visa and Mastercard to rethink their membership of the Libra Association as well. On October 8, three letters from two U.S. senators urged the tech and finance giants to “carefully consider” risks before moving forward.

Also Read: Paypal Exits Libra – Mastercard and Visa May Follow

More Political Pressure

As news.Bitcoin.com recently reported, Paypal has cut ties with Facebook’s upcoming crypto project by leaving the Libra Association. Libra is no stranger to strongly worded letters from government legislators, and now even corporations supporting the project are getting a taste of the regulatory backlash. Letters written by two U.S. Senators, Brian Schatz (D-Hawaii) and Sherrod Brown (D-Ohio), were sent to San Francisco-based online payment processor Stripe Inc., and finance giants Visa and Mastercard. The letters stated, in part:

We urge you…

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