4 ms·

Because politicians threatened them with increased regulatory scrutiny across all of their business

• buboard 7y ago
  It s possible that the benefit would outweigh the risk - after all they are already in the payments busines and know how AML works etc. They 've done it for bitcoin. So, i would assume they were threatened a little less politely than i imagined.
  • vinniejames 7y ago
    It's possible yes, but why jeopardize the gold mine you already have in one of the most valuable tech startups? Stripe ended Bitcoin support almost 2 years ago https://stripe.com/en-ee/blog/ending-bitcoin-support https://stripe.com/en-ee/blog/ending-bitcoin-support
  • vinniejames 7y ago
    Threat letters from the Senate: https://www.schatz.senate.gov/imo/media/doc/Signed%20Letters%20re%20Libra%20to%20Patrick%20Collison,%20Ajaypal%20Banga,%20and%20Alfred%20Kelly.pdf https://www.schatz.senate.gov/imo/media/doc/Signed%20Letters...
    • buboard 7y ago
      What a joke of a letter. "But think of child abuse". I can't believe they linked libra to child sexual abuse ... how would that even work? Didn't they admit last week that facebook's own detection algorithms are far better at detecting child abuse than anything else? How does that work.