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Senators Caution Mastercard, Visa, Stripe on Libra Membership

  • Payment providers are warned to proceed ‘with caution’
  • Ties with Facebook raise regulatory risks, senators say
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Photographer: Daniel Acker/Bloomberg
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Two Senate Democrats are urging three payment processing companies to reconsider their involvement with the Libra cryptocurrency project envisioned by Facebook Inc. and a coalition of other groups.

Libra poses risks not only to global financial systems, but also to the companies’ broader payments business, Senator Sherrod Brown of Ohio and Senator Brian Schatz of Hawaii said in letter on Tuesday to Visa Inc., Mastercard Inc. and Stripe Inc.