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re: antitrust

APsplainin | PayPal drops out of Libra, Facebook's ["]payments project["]

"Facebook has been a longstanding and valued strategic partner to PayPal, and we will continue to partner with and support Facebook in various capacities," PayPal said.

Facebook has [re]presented Libra as a currency that could be used for digital payments, particularly outside the U.S. It would be backed by real currency, unlike [?] other digital currencies like Bitcoin or Etherium.

The Libra Association [cartel], based in Switzerland, was supposed to give the currency project a comfortable arm's length distance from Facebook, which wouldn't own Libra.
PayPal Holdings Inc., which is based in San Jose, California, is the first company to publicly end its partnership with Libra [Association], but other companies have been reportedly having second thoughts. The Wall Street Journal reported this week that Mastercard and Visa, the world's largest payment providers financial services firms, were considering ending their Libra [Association] relationships.

EU antitrust regulators raise concerns
about the possible competition restrictions that may result from the [Libra] Association
Always Read the Footnotes

Diversity is the key to economic and political evolution.

by Cat on Sat Oct 5th, 2019 at 04:57:53 PM EST
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