Facebook and China are both looking to develop global digital currencies that could rival each other, especially in emerging markets.
Katie Haun, general partner at Andreessen Horowitz, and co-head of its $350 million cryptocurrency fund, was elected to the board of directors for the project. Despite the exodus of high-profile names this week, Haun said she and the firm "remain committed to Libra's mission."
Garlinghouse is hardly alone in calls for clearer regulation.
He told CNBC's "Squawk Box" in an interview Monday that he met with libra representatives on multiple occasions and has been "very clear" that if they don't meet anti-money-laundering standards "that we would take enforcement actions against them." Brian Kelly, CEO of BKCM, also said the reason Facebook is launching libra in the first place is to compete with those "super apps" in Asia. WeChat and Alipay's built-in payments capability could be a leg up in emerging markets.
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