Market Cap
24h Vol
3009
Cryptocurrencies
20679
Markets
2019-08-21

EU Researches The Competitivity Of Libra

The antitrust regulators of the European Commission, the executive body of the European Union, have sent out a questionnaire to determine whether the project proposed by Facebook Stabilnycoin Libra is an anti-competitive project.

The Commission had previously sent out a questionnaire in August to determine whether competitors would be able to compete fairly with the Libra Association and its product. Officials say that Libra can hinder competition by exchanging information and using consumer data.

In addition, regulators have reportedly launched an investigation into how Libra can be used in WhatsApp and Messenger on Facebook. This part of the study focuses on how Libra's membership and governance work.

The report notes that the Commission's antitrust department is not the only one of the institutions investigating Libra. A spokesman for the committee's financial services department said that this branch "monitors the development of the market for cryptographic assets and payment services, including Libra and its development".