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EU: Vestager interested in Facebook’s Libra

 |  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.

“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.

Full Content: Bloomberg

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