LONDON (Reuters) – Facebook Inc’s (FB.(O) Scale cryptocurrency is faced with an important meeting of the backers on Monday, and, after an ambitious project to make the digital coins in the regular market suffered, from any other waste, of online travel agent Booking and Holding.
FILE PHOTO: A small piece of a toy figure standing on the representations of the virtual currency in the front end of the Scale, the logo in this illustration picture the 21 of June, 2019 at the latest. REUTERS/dado Ruvic/Image/File Photo
The owner of the Priceline, Kayak, and Booking.com on Monday, it confirmed that it had pulled out of the group.
Libra has lost the latest global payments to backers on Friday, when Mastercard Inc. (MA.(N) and Visa Inc (V. N), leaving the Geneva-based Scale Organization. EBay Inc. (EBAY).D), the fintech startup of the Line, and the payments to the company, Mercado Pago, also pulled the plug.
The exodus followed warnings from politicians and regulators in the United States, to Europe, and that the Balance, threatening to disrupt the world’s financial stability, and the undermining of the right to privacy of the users and the facilitation of money laundering.
In the last images, following the departure of PayPal’s Holdings, Inc. (PYPL.(O) on the Scale’s Association early this month. Keep it on Facebook without the help and support of all of the payments from the project, due to be launched by June, 2020.
At the meeting, which will take place in Geneva, the members of the agreement, the interim articles of association, said a spokesman for Vodafone Group Plc (VOD.(L), which is one of the highest-profile companies in the project.
Articles of association of the association, are usually written in the rules that lay out how a company or organization is governed.
The Scale’s Association, the appointment of a new board of directors at the meeting, the Wall Street Journal reported this month.
A spokeswoman for the Scale’s Association declined to comment on the meeting.
The group said this month that it will provide the information after the meeting of the 1,500 entities that have expressed interest in the project.
The association, the remaining 21 members of his rides from the companies Uber Technologies Inc. UBER.(N) and Lyft, Inc. (“LYFT.D), there is a non-for-profit organizations, venture capital groups, and blockchain firms.
However, the departure of large financial firms, it means that Facebook, the Scale can no longer count on a world-wide player in order to assist consumers in their currency in the sign of Libra, and to facilitate the transactions. It is a stone of stumbling and for Libra’s efforts to convince regulators and politicians across the sale of of safety.
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France promised last month to block the Scale of operations in Europe, the Bank of England, and was constructed of high hurdles it must meet to be started. In the U.S., the Federal Reserve Chairman, and Jerome Powell, has also been proposed that the project can’t advance, before the issues were assuaged.
Scales have been announced, as Facebook expands into e-commerce, you will be backed by a pool of real-world assets, including bank deposits and short-term government securities, and under the control of the Scale bar Association.
The structure has been designed in order to boost confidence and stabilize the volatility of the prices of which are pests of cryptocurrencies, and that makes them impractical for trade and payments.
Report by Tom Wilson; additional reporting by ankit Ajmera in Bangalore and Peter Henderson in San Francisco; Editing by Pravin Char and Lisa Shumaker