Vodafone exits Facebook's Libra currencyJanuary 22, 2020 - 17:34 AMT PanARMENIAN.Net - Vodafone has become the latest company to leave Facebook's digital currency project, Libra, the BBC reports. The Libra Association has seen an exodus of backers including Paypal and Mastercard amid regulatory scrutiny. Facebook announced in June last year that it would launch the digital currency in partnership with other members of the association. But the project quickly ran into trouble with sceptical regulators around the world. In October, the world's biggest economies warned cryptocurrencies such as Libra pose a risk to the global financial system. "Vodafone Group has decided to withdraw from the Libra Association," a Vodafone spokesperson said. "We have said from the outset that Vodafone's desire is to make a genuine contribution to extending financial inclusion." "We remain fully committed to that goal and feel we can make the most contribution by focusing our efforts on [mobile payments platform] M-Pesa." Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | Ameriabank named Best Bank in Armenia for 2024 by Global Finance Ameriabank has been named the Best Bank in Armenia by Global Finance magazine in its 31st annual awards. Armenia to participate in key EU meeting for the first time ever National Assembly speaker Alen Simonyan has said that Armenia will for the first time participate in the Conference. Lavrov rejects Armenia’s “defamation” of Russia, CSTO Lavrov decried the Armenian leaders’ “defamation” of Russian soldiers and border guards deployed in Armenia. U.S. reacts to Russia’s criticism of upcoming Armenia-EU-U.S. meeting Matthew Miller has weighed in on Russia’s criticism of an upcoming Armenia-EU-U.S. meeting. |