The European Commission’s antitrust body is investigating Facebook’s Libra project, reported Bloomberg based on document sources. The Commission’s concern is that Facebook’s influence would give undue success to Libra and outcompete other players in the sector.
Facebook’s Libra has not been met with a green light by regulators worldwide. The chief concern is that it would violate capital controls and possibly lead to the creation of a grey economy.
The current probe is just preliminary research, aiming to explore the parameters of Facebook’s projects. This includes the governance structure based on the Libra Association, a body of p...