Mon. Oct 14th, 2019

EU antitrust regulators have Facebook’s Libra currency in their sights

Source: https://www.theverge.com/2019/8/21/20826290/facebook-libra-digital-currency-european-union-commission-regulators-antitrust-competition

EU antitrust regulators have Facebook’s Libra currency in their sights
Illustration by Alex Castro / The Verge

European Union antitrust regulators have begun conducting a preliminary investigation into Facebook’s plans to launch a digital currency, according to a new report from Bloomberg. Regulators are reportedly concerned that the Libra currency could shut out rivals and create “competition restrictions” related to the use of information and consumer data. The EU is also examining the integration of Libra wallets into Facebook’s WhatsApp and Messenger services, according to Bloomberg.

The source of the report is a questionnaire sent out by the European Commission to groups involved with the Libra proposals. According to Bloomberg, documents like these are often part of early steps towards an official inquiry. Facebook and the European…

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Source: https://www.theverge.com/2019/8/21/20826290/facebook-libra-digital-currency-european-union-commission-regulators-antitrust-competition

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