Antitrust regulators at the European Commission, the executive branch of the European Union, have sent out a questionnaire to determine whether Facebook’s proposed stablecoin Libra is an anticompetitive project.
Bloomberg learned of the news via a private document, per a report on Aug. 20. According to the report, the Commission sent out a questionnaire earlier in August in an attempt to figure out whether rival entities would be able to compete with the Libra Association and its product on a fair basis. Officials reportedly believe Libra may hinder competition via its exchange of information and use of consumer data.