Visa and Mastercard, followed by PayPal, plan to refuse to cooperate with Facebook in the Libra cryptocurrency project due to regulatory confrontation.

The international payment systems Visa and MasterCard are close to exit the Libra project, The Wall Street Journal (WSJ) reports citing anonymous sources. The reason for their unwillingness to participate in the Libra project is criticism from the US and EU financial authorities. In addition to Visa and Mastercard, other members of the association have doubts about the successful future of Libra in the face of such resistance from world regulators.

“For Libra to succeed it needs committed members, and while I have no knowledge of specific organizations plans to not step up, commitment to the mission is more important than anything else,” tweeted Facebook blockchain manager David Markus. He added that "the first wave of Libra Association members will be formalized in the weeks to come."

In general, he did not refute information about possible changes in the list of the Libra association members, but noted that the information that Facebook does not share detailed information about how it is planned to secure the network in the future and protect it from being used in illegal activities "is categorically untrue."

According to another publication of the Financial Times, on 3 October, Libra partners held a meeting, which was not attended by representatives of PayPal. Later, PayPal officially confirmed its refusal to participate in the Libra digital currency project, becoming the first company to walk away officially from Facebook’s Libra. The company did not detail the reasons for the refusal but it can be supposed that the decision was triggered by the negative reaction from workd regulators that might lead to problems launching and ultimately growing the service.

In June, Facebook reported that 27 companies other than Facebook were participating in the development of the Libra cryptocurrency project, and it was planned to attract up to 100 partners to the Libra association.