Vestager says Libra rouses EU antitrust interest

Vestager says Libra rouses EU antitrust interest

EU Competition Commissioner Margrethe Vestager said that Libra digital currency is going to be a centre for antitrust and economic governors soon, affirming an early-level examination into how the modern payment system is going to run.

Vestager informed journalists in Copenhagen that from both competition and a monetary security perspective, Libra is going to have their attention. She told the EU transmitted surveys out earlier this month to accumulate data 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 applications, over matters the suggested currency might illegally shut out rival payment providers or set unfair curbs on those participating in it. European data protection authorities are also looking at Libra.

Facebook didn’t instantly reply to a request for comment. The corporation has earlier agreed to satisfy all controllers before issuing the crypto coin, a process that might take some time.