The Libra Association, the nonprofit that will govern the currency, officially signed on 21 charter members on Monday at the organization's inaugural meeting in Geneva. Originally the Libra Association had 27 potential members, but several companies dropped out in recent days, including Visa, Mastercard and PayPal.
Facebook has acknowledged that Libra, its cyrpto-currency, which it plans to launch by 2020 in partnership with 27 other organisation, might never really see the light of day given the intense regulatory scrutiny
The Swiss data privacy authority said it was expecting Facebook Libra to conduct an impact assessment of data protection risks associated with the cryptocurrency, evaluate risks and propose measures to minimize them.
Facebook Libra cryptocurrency: “Regulators have concerns,” Sheryl Sandberg acknowledged Wednesday in an interview with Bloomberg TV. “We’re already meeting with them. We know we have a lot of work to do."