Will use of consumer data by Facebook’s Libra cryptocurrency be anticompetitive?
The EU’s queries about Libra follow recent calls by politicians, central bankers and regulatory bodies for tight regulation of Libra
Brussels — EU antitrust regulators want to know whether Facebook’s proposed Libra cryptocurrency and its use of consumer data pose possible anticompetitive constraints, people familiar with the matter said on Wednesday.
The European Commission sent out a questionnaire earlier in August to various parties involved in Libra, giving respondents two to three weeks to provide feedback, the people said. By sending out a questionnaire, the EU could be preparing the ground for a formal investigation.