A PYMNTS Company

EU: Vestager interested in Facebook’s Libra

By  |  September 1, 2019

According to a report from Bloomberg, Facebook’s Libra digital currency will be a focus for antitrust and financial regulators in the near future. EU Competition Commissioner Margrethe Vestager confirmed an early-stage probe into how the new payment system will work.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    “From both a competition and a financial stability perspective, Libra will have our interest,” Vestager told reporters in Copenhagen. She said the EU sent questionnaires out earlier this month to gather information on Libra.
    The EU is examining how Libra will be run and how Facebook might link it to data from its social network and messaging apps, over concerns the proposed currency might unfairly shut out rival payment providers or set unfair curbs on those participating in it. European data-protection authorities are also looking at Libra.

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    Full Content: Bloomberg

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.