Consumer protection groups ask Libra Association members to withdraw from Facebook crypto

Four consumer protection groups - Open Markets Institute, Public Citizen, Demand Progress Education Fund and Revolving Door Project - have urged the 27 founding members of the Libra Association to withdraw from the Facebook-led cryptocurrency project.

The groups wrote an open letter on Thursday to the members, which include Visa, MasterCard, Paypal and Uber, to not go ahead with the project as the Libra cryptocurrency will have “significant competitive, political, financial, and social implications.”

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