* PayPal Holdings has become the first to withdraw from Facebook's initiative to launch a digital coin. PayPal was among those hesitant Libra Association members that had been reconsidering their support for the proposed digital currency project amid heightened regulatory scrutiny.
* Still on Libra, the European Commission also questioned Facebook's proposed digital currency and its potential impact on the areas of financial stability, money laundering and data privacy, the Financial Times reports.
* U.S. Securities and Exchange Commissioner Hester Peirce is against the Consolidated Audit Trail project, a massive trading database that will use more than 58 billion records to create an unprecedented view of U.S. stock and option trading for regulators and exchanges. Peirce said eliminating CAT would protect trading information by avoiding data centralization.
* Senate Banking Committee Chairman Mike Crapo, R-Idaho, is planning to make changes to the Senate version of the cannabis banking bill, recently passed by the House, to focus on the money-laundering risks that may arise from the legacy cash marijuana businesses have accumulated before they are allowed to open up bank accounts, sources told the American Banker.
* The Malaysian government is not discussing with Goldman Sachs Group about regaining the state funds that were lost under the 1MDB scandal, Reuters reports, citing Malaysia's finance minister on local media.
* Morgan Stanley is holding an event this month to tackle direct listings as it aims to stay on the radar for companies who are seeking capital but would want to avoid dealing with the formal IPO process and big Wall Street banks, sources told Bloomberg News. Goldman Sachs, on the other hand, has already held a session about direct listings last week at a Las Vegas conference.
* Greece's Eurobank Ergasias is facing difficulty in off-loading an 80% stake in loan recovery business Financial Planning Services to U.S. asset manager Pacific Investment Management, sources told Reuters.
* Appaloosa Management founder David Tepper will start returning most of the external capital the firm handles and will retain just 15 clients as he transitions into operating a family office instead, Bloomberg News reports.
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