Competition watchdogs at the European Commission have begun probing potential anti-trust issues relating to Facebook’s digital currency project Libra.
The European Commission is “currently investigating potential anti-competitive behavior” related to the Libra Association amid concerns the proposed payment system would unfairly shut out rivals, the EU authority said in a questionnaire seen by Bloomberg and sent out earlier this month.
Officials said they’re concerned about how Libra may create “possible competition restrictions” on the information that will be exchanged and the use of consumer data, according to the document.
Facebook’s Libra faces anti-trust review by EU watchdogs