Why High-Profile Defections Aren’t Libra’s Biggest Challenge

TFT-admin | January 22, 2020

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By Nathaniel Whittemore

Libra has lost another Association member, but according to @nlw that’s likely low on its worries list, plus Square’s LN efforts & TON’s SEC support.

News broke yesterday the Libra Association had seen its eighth high-profile defection, this time from the telecom giant Vodafone. In today’s episode of The Breakdown, @nlw argues Association membership is far less of a factor in Libra’s success than key regulatory questions around domiciling, the value peg and the U.S.’s fear of a Chinese digital currency.

Also in this episode, Square Crypto announced its plans for a “Lightning Development Kit” while Square also announced a new patent that could make crypto easier to use. In regulatory battles, meanwhile, both the Blockchain Association and the Chamber of Digital Commerce have filed amicus briefs around the SEC-Telegram lawsuit. 

Topics Discussed

Vodafone Is the Latest Big Company to Quit Facebook-Founded Libra Association

Square Crypto Is Creating a ‘Lightning Development Kit’ for Bitcoin Wallets

Jack Dorsey’s Square Wins Patent for Fiat-to-Crypto Payments Network

Blockchain Association Sides With Telegram Against SEC, Says Grams Are Not Securities