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Tensions Rising at Facebook Libra as Backers Consider Quitting: Report

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Several backers of Facebook’s Libra cryptocurrency project are said to be considering backing out due to growing pressure from regulators.

According to a report from the Financial Times, three of the firms (which were not named) expressed concerns over being seen to be linked to the project after watchdogs around the world raised concerns over its potential threat to financial stability.

The EU was recently reported to have even moved to investigate the Libra Association over potential antitrust issues. Over in the U.S., lawmakers have called for Libra to be halted until regulatory issues have been addressed.

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