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MasterCard CEO on Facebook’s Libra: ‘I don’t understand how that works’

MasterCard chief exec Ajay Banga has lambasted Facebook‘s digital currency Libra, citing the social media giant’s apparently shaky attitude towards compliance for his company’s departure from the project back in October. In an interview with Financial Times, Banga noted he believed that key members of the Libra...
MasterCard chief exec Ajay Banga has lambasted Facebook‘s digital currency Libra, citing the social media giant’s apparently shaky attitude towards compliance for his company’s departure from the project back in October. In an interview with Financial Times, Banga noted he believed that key members of the Libra Association weren’t fully committed to “not do anything that is not fully compliant with local law,” particularly in relation to anti-money laundering and data management concerns. “… all that […] every time you talked to the main proponents of Libra, I said ‘Would you put that in writing?’ They wouldn’t,” Banga told FT. [READ: Swiss president:… This story continues at The Next WebOr just read more coverage about: Facebook
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