Libra, Facing Pressure, Urged To 'Persevere' By GOP Sen.

Law360 (October 17, 2019, 9:58 PM EDT) -- Amid a barrage of criticism and defections, the Libra Association received a major show of support as Republican Sen. Michael Rounds of South Dakota applauded the Libra project's goal of expanding access to banking services, urging members to "persevere" in a Thursday letter.

Rounds' letter arrives after a host of presumptive Libra Association partners, including MasterCard, Visa and PayPal, dropped out days before the 21 remaining founding members officially signed on to the Facebook-led project on Monday.

"While the Association is still in the process of standing up its governance framework and its operating rules, it would be a shame to...

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