Opinion: Payment agencies withdraw from Libra Association or due to political and commercial competitive pressures

On October 12th, Russell Brandom, editor-in-chief of The Verge policy on the US technology media website, said that the founding members of the Libra Association were all payment service agencies except eBay, including PayPal, Visa, MasterCard, eBay, and payment company Stripe. And Mercado Pago. He believes that traditional payment service providers are regulated and need to meet specific regulations such as fraud, money laundering, and sanctions enforcement. Not only that, but governments have also begun to realize that Libra is having difficulty meeting these regulatory constraints, which means that if payment service providers choose to work with Libra, they are likely to get themselves into a “mire” of regulatory strikes, leading to a series of failures. Necessary trouble.