U.S. Treasury Secretary says firms dropped out of Libra as it's not "up to par" with regulatory standards

In an interview with CNBC, Steven Mnuchin, the U.S. Department of the Treasury Secretary, expresses his thoughts on the recent exodus of companies from Facebook's blockchain project, Libra.

Mnuchin tells CNBC that he has met with "representatives of Libra multiple times." During those meetings, he has been clear with them that the U.S. government "would take enforcement actions against them," if Libra and its participants "don't meet...our money laundering standards and the standards that we have at FinCEN." 

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