In blow to Facebook, PayPal pulls out of Libra cryptocurrency project

Get out while the getting's good. 

That appears to be the thinking of PayPal, which today confirmed that it's bailing on the Facebook-created Libra Association. The supposedly nonprofit organization, which lists 29 "partners" on its website (soon to be 28) and aims to create a digital "global currency," has recently run afoul of U.S. lawmakers worried about — among other things — money laundering.  

PayPal, it seems, wants nothing to do with that. 

"PayPal has made the decision to forgo further participation in the Libra Association at this time," reads in part a PayPal statement emailed to Mashable. "We remain supportive of Libra’s aspirations and look forward to continued dialogue on ways to work together in the future." Read more...