JPMorgan and Goldman Sachs reportedly rejected any involvement in Facebook's Libra cryptocurrency because of fears it would be used by criminals

From businessinsider.com

JPMorgan Chase and Goldman Sachs declined Facebook's invitation to join Libra because of worries that cryptocurrency could be used to violate money laundering and sanctions laws, AnnaMaria Andriotis, Peter Rudegair, and Liz Hoffman at The Wall Street Journal reported. Facebook hoped to launch Libra by June 2020 with over two dozen cofounders and members of the Libra Association, but these plans have been unraveling since the project was announced early this summer. Facebook did not immediately respond to Business Insider's request for comment regarding J.P. Morgan and Goldman Sachs' involvement. Lawmakers have had ... (full story)