Facebook’s crypto loses support, dealt with another blow.

Facebook’s ambitious plan for a global cryptocurrency keeps being hit by hurdles. A recent report by a G7 taskforce, along with the Financial Stability Board and the International Monetary Fund, says that such currencies should not operate until “risks are adequately addressed”. Facebook, which is preparing to meet with backers on Monday, had said it hoped to launch Libra in 2020. EBay, Visa, Mastercard and Stripe have all withdrawn from Facebook’s Libra Association, just one week after PayPal also backed out of the deal.

Sherry Ellis