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In blow to Facebook, PayPal pulls out of Libra cryptocurrency project

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Get out while the getting's good. 


That appears to be the thinking of PayPal, which today confirmed that it's bailing on the Facebook-created Libra Association. The supposedly nonprofit organization, which lists 29 "partners" on its website (soon to be 28) and aims to create a digital "global currency," has recently run afoul of U.S. lawmakers worried about — among other things — money laundering.  


PayPal, it seems, wants nothing to do with that. 


"PayPal has made the decision to forgo further participation in the Libra Association at this time," reads in part a PayPal statement emailed to Mashable. "We remain supportive of Libra’s aspirations and look forward to continued dialogue on ways to work together in the future." Read more...

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