Mnuchin says libra backers dropped out because the project is 'not ready' to meet regulatory standards
On Friday, Visa, Mastercard, Stripe and eBay joined PayPal in announcing they would no longer be part of Facebook's libra cryptocurrency.
Treasury Secretary Steven Mnuchin said he told libra representatives that he would take action if libra didn't meet regulatory standards. Mnuchin said in an interview with CNBC Monday morning that he thinks some libra backers "realized that they're not ready, they're not up to par." Secretary of the Treasury Steven Mnuchin answers questions from the press after an interview on CNBC on the North Lawn of the White House in Washington, September 12, 2019. REUTERS/Sarah Silbiger.
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