The Dilemma That Libra Backers Find Themselves In

There is a tug-o-war taking place within many of the established financial institutions. This is only going to worsen as decentralized finance becomes more established.

Traditional financial companies are trying to get a jump on the future to make sure they are relevant. The challenge is the regulators are trying to ensure the existing financial system remains in place. These entities are dependent upon the present system which means they do not want to find themselves in the scope of the regulators.

This is causing MasterCard and Visa to rethink their support of the Libra project.