Facebook reportedly faces EU antitrust scrutiny over its Libra cryptocurrency

Facebook’s new cryptocurrency Libra hasn’t even launched yet, but concerns about the project keep piling up.

Commission – Currency – Rivals – Bloomberg – Questionnaire

The European Commission is currently investigating whether the new digital currency could unfairly shut out rivals, according to Bloomberg, which cited a questionnaire by the EU antitrust regulators.

Facebook and 27 partners unveiled plans for the cryptocurrency in June. Since then, the social media giant has faced pushback from US lawmakers who worry that the cryptocurrency will be abused by criminals and negatively impact the US dollar. The social network said it won’t launch the cryptocurrency until all concerns by lawmakers are addressed.

Facebook – Libra – Half – Group – Libra

Facebook plans to launch Libra in the first half of 2020 and created a new group called the Libra Association to govern the coin. Libra will be pegged to a basket of assets so its value won’t…