PayPal cautious about future of Libra cryptocurrency

"I think there's a lot of work to happen before we get to that point where it becomes something more than just a very exciting idea," said Rabinovitch. — AP

PayPal is cautious about the future of Facebook-backed cryptocurrency Libra, which is slated to debut with the pioneering digital payments firm as part of its oversight association.

International outcry is mounting over Libra – with central banks, governments and regulators railing against Facebook's upstart cryptocurrency and questions over how it would be regulated.