The New York Times reports that 7 of Libra’s partners are quite wary of the new project; according to the report these partners signed non-binding agreements with the social media giant; the partners are not required to use or promote the digital currency and they could easily back out of the agreements; no money has changed hands yet and these partners will want to see some real progress before agreeing to fund the project; a few reasons behind the unease include regulatory uncertainty, Facebook’s issue with privacy and Facebook’s past treatment of corporate partners; worldwide regulators have also shown a lot of criticism towards the project saying they will be scrutinizing the efforts very closely. Source.
