Facebook's Libra support pared down further as Priceline owners spring back


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Facebook's Libra support pared down further as Priceline owners spring back

On Monday, the 14th of October 2019, the Menlo Park, CA-based social networking Goliath's plan to bring its planned digital currency, Libra, into mainstream commerce, had been hit with another whiplash after an online travel company, Booking Holdings had jumped back at the halfway, echoing the leads of global payment processing giants likes of PayPal Inc., Master Card and Visa Inc.

alongside others, which had backed off of Geneva based Libra Association last week amid growing criticism from financial policymakers all over the world. Aside from that, the owner of Priceline, Booking.com alongside Kayak, had confirmed on Monday (October 14th) that they had decided to recoil from the group amid intensifying uproar against digital currencies across the globe, while two of the largest economies of EU, Germany and France had already barred access of Facebook's Libra in to the euro zone economy.

More critically, latest decision of Kayak and Booking.com follows a US SEC (Securities and Exchange Commission) ruling revealed later last week saying that all US-based issuer of digital currencies should be subject to money laundering regulations, which in effect had curbed out optimisms further over Facebook Inc.'

s digital coin, Libra, which had delayed its launch to June 2020 later last month after facing off harsh criticism from US lawmakers including a Congressional House Committee.