Mastercard and Visa face greater regulatory and political risk than technology risk, he said. As the cost of transactions fall, it will be hard to dislodge them as industry leaders -- unless there’s political or regulatory opposition. However, he’s still bullish on the companies, along with PayPal, as Libra isn’t yet “far enough along to dent our enthusiasm." That’s a hard task, as the hearings will likely be hostile and most lawmakers are likely to be skeptical. “Even lawmakers who generally support crypto are likely to see little political upside in supporting Facebook’s entry into the space," Seiberg said.

Source: Mint July 01, 2019 18:33 UTC