Skip to content

Europeans probe Facebook's bid to establish a new cryptocurrency

The E.U.'s antitrust probe of the Libra project focuses on concerns it would improperly shut out rival payment systems.

A photo illustration of Facebook’s planned Libra cryptocurrency
A photo illustration of Facebook’s planned Libra cryptocurrency (AN/Christoph Scholz)

The European Commission opened an antitrust investigation into "potential anti-competitive behavior" related to Facebook's Libra Association created to oversee its cryptocurrency project, Bloomberg reported.

The antitrust probe of Facebook's two-month-old Libra cryptocurrency project focuses on concerns that it would improperly shut out rival payment systems, the news agency said on Tuesday, citing a document it said it had viewed.

This article is for paying subscribers only

Join now

Already have an account? Log in

Latest