Yet another partner of Facebook’s proposed cryptocurrency known as Libra has backed out of the deal. The British telecommunications operator Vodafone announced its departure from Facebook’s Libra Association on Tuesday. In total, eight companies have now backed out of Libra.
Libra could face even more stringent requirements as U.S. lawmakers introduce a bill seeking to classify stablecoins as securities.
The Libra Association released on Friday a developer update, saying that Facebook’s cryptocurrency project has been running for “five months and growing strong.” In a blog post, Libra Association developer Michael Engle said that the Libra testnet has registered more than 51,000 transactions since it was reset in September.
Developers have also developed 34 projects on the testnet, including 10 wallets and 11 blockchain explorers.
The Libra Association has also launched a so-called “pre-mainnet,” which is a replica of the actual mainnet for testing purposes. The update stated that the pre-mainnet now has 7 nodes in operation, with 14 more in process.
The final straw for the companies that left on Friday 11 October was when they heard that Facebook founder Mark Zuckerberg would be testifying on Libra to the House Financial Services Committee on 23 October. SOURCE:https://davidgerard.co.uk/blockchain/2019/10/15/facebook-and-libras-terrible-horrible-no-good-very-bad-week/ More