Digital payment firm PayPal said on Friday it was leaving the coalition with the aim of monitoring Facebook-backed Libra cryptocurrency, which has been influenced by regulators.

"PayPal has decided to discontinue further participation in the Libraries Association at this time," the California-based company told AFP.

We support Labra's aspirations and look forward to continuing to discuss ways to work together in the future. With the rise of questions about the high level of cryptocurrency and how to overcome it by the central banks and governments, there has been a lot of international noise.

Dante Despart, head of the association's policy, responded to the AFP investigation, saying, "It requires a lot of courage and patience to carry out ambitious efforts like the Libra does - to get things right. Is a chance to create a generation of entrepreneurship and improve financial inclusion. "

"This journey will be long and challenging. It is better to know about the lack of commitment, later." Facebook unveiled Libra's plans in June - which will begin in 2020 - to support Bitcoin and other virtual units with a basket of currency assets.

"The commitment to this mission is more important to us than anything else." MasterCard, Visa and other financial partners, allegedly involved in monitoring Libra, are considering other projects as regulatory workers are released on the project and seek information from association members.

Other Labra players include ride-hailing apps Lyft and Uber.

The association's chief said last week that project leaders aim to "assure" regulators that they are worried about virtual money.

In a comment written about a Facebook employee meeting in July, Facebook chief executive Mark Zuckerberg said he was optimistic about Libra, despite harsh comments from government officials from several countries.