No Apple Coin Or iPhone Coin Coming
Apple CEO Tim Cook does not like coins: Facebook Libra take note. Asked by French media about the idea, he responded: "I really think that a currency should stay in the hands of countries…A private company shouldn’t be looking to gain power this way…We elect our representatives to assume their governmental responsibilities. Companies aren't elected and should not be going in this direction."
Apple Inc Chief Executive Tim Cook has weighed in against launching an Apple cryptocurrency, saying in remarks published on Thursday that companies should not be trying to gain power by establishing competing currencies.
Meanwhile, Paypal is out of Libra. The regulatory scrutiny is more than enough. Along that line, Visa and Mastercard are reconsidering their involvement.
PayPal made the announcement in a statement on Friday, but did not specify what had prompted the decision. Libra, and its digital wallet Calibra, were revealed by Facebook in June. But the cryptocurrency has been criticised by regulators, and both France and Germany have pledged to block it from Europe.
PayPal said it "[remained] supportive of Libra's aspirations" but had chosen to focus on its own core businesses.