A visible illustration of digital cryptocurrency cash on show in entrance of Fb and Libra logos.

Chesnot | Getty Pictures

The Libra Affiliation that’s accountable for governing Facebook’s proposed cryptocurrency has misplaced its product chief, in response to an individual with direct information.

Simon Morris left the group in August, in response to his LinkedIn profile. The departure is the newest signal of bother for Fb’s proposed cryptocurrency, which is slated for launch in 2020.

Morris was solely within the function on an interim foundation, in response to the individual, and won’t get replaced till the affiliation finds a everlasting managing director. At present, Libra Affiliation Chief Working Officer Bertrand Perez is performing as interim managing director.

Information of Morris’ departure comes shortly after PayPal introduced its decision to withdraw as one of many affiliation’s founding members. The Libra cryptocurrency has additionally confronted a wave of pushback from involved lawmakers and regulators across the globe.

Fb CEO Mark Zuckerberg will testify earlier than the Home Monetary Providers Committee on Oct. 23 on the corporate’s cryptocurrency plans.

Morris didn’t reply to a request for remark.

Correction: An earlier model of this story and its headline misstated Morris’ title. He was the product chief on the Libra Affiliation.

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