“Either from the perspective of competition or financial stability, Libra deserves our attention,” Westerg told reporters in Copenhagen. She said that the EU has issued a questionnaire earlier this month to collect information from Libra.
The EU is studying how Libra works and how Facebook is going to connect Libra with its social networks and messages, as concerns about new cryptocurrencies that may unfairly squeeze out competing payment providers or unfair restrictions on participating competitors. The data in the application is linked. The European Union's data protection agencies are also paying attention to Libra.
Facebook has not responded to the request immediately. The company had previously promised that it would be a long process to meet all regulatory requirements before releasing the Libra cryptocurrency. (Mur)