Possible reasons why PayPal dropped Facebook’s Libra membership

[NathanJB]

Very interesting, but I think the reason is that Paypal doesn't want their name to be associated with Libra right now because of the negativity around this project. A lot of negative sentiments around this project even prior to the release.

And they Paypal have established themselves already and they don't want their good name to be with some product that has a lot of adverse reaction that can have a domino effect on their name in the future.

The real reason is that they are afraid of the governments. I am almost 100% sure that those companies who expressed their commitment and support to the Libra project have received communication to cease and cut their connection. If the US government, the US congress in particular, has convened to discuss the development of Libra and issued a statement to stop it, they would have also expressed the same statement to all Libra partners. And these companies cannot say no to the one who gives them the yes to operate in their jurisdiction. 

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[clickerz]

Very interesting, but I think the reason is that Paypal doesn't want their name to be associated with Libra right now because of the negativity around this project. A lot of negative sentiments around this project even prior to the release.

And they Paypal have established themselves already and they don't want their good name to be with some product that has a lot of adverse reaction that can have a domino effect on their name in the future.

The real reason is that they are afraid of the governments. I am almost 100% sure that those companies who expressed their commitment and support to the Libra project have received communication to cease and cut their connection. If the US government, the US congress in particular, has convened to discuss the development of Libra and issued a statement to stop it, they would have also expressed the same statement to all Libra partners. And these companies cannot say no to the one who gives them the yes to operate in their jurisdiction. 

Indeed, its difficult to deal with government right now especially with taxation,fees,charges etc. The government always wants their part and interest. From the start of the project, there are controversies already. Establish partners do not want to engage in this kind of business and prefers to distance themselves.

[alyssa85]

I guess is the right decision for Paypal isn't it?

I mean why taint their names today, maybe there are other ways to make money here and perhaps there is a possibility that they will have their own tokens in the future that could also rival Libra that's why they opted not to join force with them.

They need to under go that audit first specially with the accusations that they are being used for child exploitation and money laundering scheme. So let's see how it turns out. Clean up their dirty laundry first before they support crypto because I'm sure regulators are going to scrutinised them just like what they are doing today with Facebook's Libra.

It's absolutely the right decision for Paypal.

I don't think Libra is going to launch, so why stay in a project and get tarnished by it, if it's likely not going to happen?

If paypal wants to connect to crypto they can always tie up with one of the wallet providers like Coinbase, that would be safer for them.

[ashmodeus]

maybe paypal sees libra as trying to dominate the economic system in this world.
and well, they got it.
also , Why Facebook wants to be money's future ?
1.7 billion people in the world, will affected by mass adoption from libra, and it will be make a fucking great domination.
Is dollar dominance not enough for this world?

[Pearls Before Swine]

Very interesting, but I think the reason is that Paypal doesn't want their name to be associated with Libra right now because of the negativity around this project.

I don't think there really is much negativity around Libra, just uncertainty as to whether the U.S. gov't is going to give facebook the green light to go ahead and launch it. 

It did surprise me that paypal had dropped out, though I wasn't aware they were interested in Libra before I heard the news.  Paypal doesn't need something like a cryptocurrency to function anyway.  They must have wanted to somehow piggyback onto the facebook brand and maybe act as a payment processor.  As far as Libra is concerned I don't see this necessarily as bad news unless Paypal knows something the rest of us don't.

[Rmcdermott927]

PayPal has never really been “crypto friendly”.  I remember using local bitcoins years ago and exchanging BTC for PayPal.   PayPal found out and immediately cancelled my account with little explanation given.  I’m surprised they even participated in the first place.