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The European Commission has asked Facebook and the Libra Association to respond to a series of questions on financial stability, money laundering and data privacy risks that could be posed by the project, C stanley cup canada NBC reported on Monday Oct. 7 .Facebook and the Libra Association were sent a list of questions from the commissions executive branch asking for a better understanding of the proposed Libra cryptocurrency, an EU spokesperson told CNBC.European countries like France have vowed to block Libras development, saying it poses a risk to the sovereignty of nations currencies. Data pr stanley cupe ivacy regulators in Europe have also expressed doubts over the combination of vast reserves of personal and financial information that stanley termoska would be gathered as part of the Libra proposal.Earlier this month, PayPal announced it was withdrawing from Facebooks Libra Association. Visa and Mastercard also have been rumored to be wavering in their support for the project.Originally, there were 28 companies backing Libras development and ultimate deployment. Members of the Libra Association consortium were asked to invest at least $10 million each to help cover the operating costs of coming to market with the digital coins and to fund their issuance.The PayPal move, though not explicitly tied to any series of events, comes as the Libra project has been criticized and scrutinized by several global regulators focused on privacy and security. Facebook, for its part, had said it would not have sole control over the Wnea DoorDash Eyed Deliveroo Acquisition, But Sides Couldn t Agree, Report Says
Chatter is growing louder about eBays possible new payments platform as the company readies to spin-off its PayPal unit later this year. While the venture would certainly lead to a rivalry with Apple Pay, eBay has already upped the competition between the two with its latest hire.Online payments expert Bora Chung will reportedly leave Apple for eBay, marking the second such instance of eBay recruiting away from Apple to boost its payment technologies. A Jan. 26 report by SFGate says eBay Chief Product Officer RJ Pittman, himself once a member of the Apple e stanley cup -commerce team, was responsible for nabbing Chung.Chungs hire is part of Pittmans plan to boost the new division, which focuses on payments technology innovation in preparation for PayPals independence day. Experts see PayPals spin-off as a fork in the road for eBay: While the two could theoretically continue a partnership, most likely eBay will have to launch its own, new payments platform to stay in the game, especially as Apple Pay threatens a retail revolution.Reports note that Chung had already spent time a stanley mugs t PayPal as chief of staff to Dana Stalder, the companys senior vice president of global consumer and merchandise services. While at PayPal, Chung served as senior director for i stanley cup ts Branded Checkout unit.While Chungs return to eBay could spark a new mobile payments race with Apple, reports say the hire is also part of eBays efforts to stay afloat in the e-commerce world as new competition creeps closer. Chinas Alibaba