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Other than eBay, guessing the reason why the payment cos are dropping out first is because they have the highest regulatory/compliance burden as is, and don’t n
by undefined3840 7y ago
Other than eBay, guessing the reason why the payment cos are dropping out first is because they have the highest regulatory/compliance burden as is, and don’t need more scrutiny dealing with something they don’t even fully understand just so they can win some brownie points with FB.
- kbenson 7y agoWell, Ebay owned Paypal until they spun it off again. Perhaps the execs still have nightmares about dealing with financial regulations (or trying to walk the line so they didn't have to) and don't want to deal with it again.
- xemdetia 7y agoI'm more of the opinion that there was a Q2/Q3 deadline to get some sane regulatory framework by the Libra team and they just whiffed on it or it was wholly insufficient for normal international banking standards (which was probably laid out by all the parties that left). The fact that everyone seemed to bail all at once sounds like there was just a lack of commitment/slipped deadline by the Libra side. Generally as a new thing is being stood up under a regulated framework there is some slack provided to get the ship in order while other interested parties look on, but at a certain point major requirements must be done. If you are one of the interested parties and it doesn't look like the other side is making sane progress, the hammer drops swiftly.