PayPal withdrew support from Facebook's Crypto Currency Libra

PayPal withdrew support from Facebook's Crypto Currency Libra

PayPal withdrew support from Facebook's Crypto Currency Libra

Facebook's Crypto Currency Labra has not yet appeared, but there have been significant difficulties. Many concerns are being raised regarding the security and privacy of this crypto currency. The currency is being criticized by financial institutions around the world. Even if this currency launches, its European market Hard to get into.

Germany and France have also begun blocking the currency.

Now PayPal has also announced that they have abandoned the Libra project altogether. PayPal fears that this crypto currency could be used for money laundering. A source told the Financial Times PayPal may issue support for this currency later. MasterCard and Visa also have reservations on Libra but did not withdraw from the currency.