Facebook’s ‘cryptocurrency’ Libra reportedly facing EU competition probe
Facebook’s controversial ‘cryptocurrency’ Libra is facing a competition probe by the European Union Commission, according to a document seen by Bloomberg. The European Union’s antitrust regulators are “currently investigating potential anti-competitive behavior” amid concerns Facebook would monopolize the payments realm and unfairly shut out competitors. Unsurprisingly, regulators are worried about Libra creating “possible competition restrictions”
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