Vodafone withdraws from the Libra Association

The Libra Association led by Facebook continues to lose members. First they were Paypal, Visa, Mastercard and others, who were threatened by a possible increase in regulations and obstacles to the development of their business models, is now Vodafone, the British mobile phone operator.

The UK telecommunications company would be the eighth company to withdraw from the Libra project, which had been announced with great expectation last year. So Vodafone joins the list of members who have given up the project that are PayPal, eBay, Stripe, Visa, MasterCard, Booking Holdings and Mercado Pago.

«We can confirm that Vodafone is no longer a member of the Libra Association. Although the composition may change over time, Libra's technology design and management ensures that the payment system will be resilient, ”said Dante Disparte, the association's chief communications officer.

Unlike the rest of the member who left the Libra Association, Vodafone's departure would not be related to the imposition of stricter regulations on their business or criticism from different governments.

It is worth mentioning that, although important members have withdrawn, there is still a long waiting list of approximately 1500 companies that want to integrate the Libra Association, as reported Coindesk. For its part, Vodafone has indicated that it will closely monitor the progress of the Libra project, so its withdrawal does not mean the complete departure from the project.

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Adolfo Morán
Adolfo is Founder and Executive Director of Lawgic Tec, a nonprofit association dedicated to research on issues of law and new technologies. General Editor of The Crypto Legal web platform and Legal Consultant in the Financial Regulation and FinTech area of ​​EY Law. He specializes in Blockchain, Smart contracts and Fintech. Email: contacto@lawgictec.org


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